Posted at 11:22 AM (CST) by & filed under Bill Holter.

One of my predictions for 2022 was that many narratives would unravel this year, looks like I did not have to wait too long! Today was a very big day for truth as Veritas (God bless them) uncovered military documents showing gain of function work and funding did in fact take place pre “Covid”. Another little morsel was that they knew Ivermectin and Hydroxychloroquine both are useful fighting the virus. Are you shocked?

 Walensky and the CDC admitted that the deaths were way overstated since as many as 75% had at least 4 comorbidities. Even CNN (certainly not news) and MSNBS (mainstream national bull shit) spent the last 24 hours walking back their sensational number of deaths FROM Covid as opposed to “with” Covid. We were even treated with a slew of e-mails today proving Fauci lied to Congress (and the nation and the world!). A pretty good 24-48 hours I would say!

 Sadly, worldwide, millions of vaccine severe adverse reactions and tens or hundreds of thousands of deaths have occurred from the things they now call vaccines (of course the definition of a vaccine has changed a couple of times over the last year ((and by all means fact check me like they don’t Sotomayor, Kagan, and Breyer)). We now hear of people collapsing or even dying on a daily basis. Soccer players, tennis stars, tv anchors, celebrities, and yes, even little children. Mind you, this is not hearsay or something cooked up by right tard lunatics, you can see videos of younger/healthy people collapse out of nowhere with your own eyes. And the kicker? Bean counter actuaries have seen a huge increase in life insurance payouts over the 3rd and 4th quarters of last year…some sort of anomaly or just coincidence?

 Now I wonder, whether the anti social media like litter, fakebook, giggle and their army of fake fact checkers will now reinstate all those they abolished for telling the actual truth on so many topics? And since we now know that Covid is not the killer we were told it was for healthy people, will companies including The USA Inc. back off on mandatory vaccinations? So many lives have been lost, maimed, and financially ruined due to a “miscalculation”. Will we at least get a we’re sorry or just a SNL “nevermind”?

 Not mentioned in the above paragraph are all the families broken and divided (divide and conquer was THE plan?) over Covid/masks/quackzines/Ivermectin etc. Think of the lifetime relationships now permanently ruined? Gender, race, religion, and politics were not enough division I guess, so they threw in a little bit of a health wedge? And what will the Karens now say who proclaimed the unquaxxed/mask refusers should be forcefully quarantined, denied healthcare/food, or any other services for that matter? It just blows my mind how anyone could possibly blame someone unvaxxed for endangering someone who is vaxxed…if in fact the quackzine does actually work?

 The above is just one broad topic mind you, what other “conspiracy theories” are in fact…FACT? JFK? 911? There are dozens more but I’ll add just one, do you really believe the numbers on your brokerage statement or 401K? They are quoted in almighty dollars…issued by an insolvent issuer…so they must be true, right? And because there is zero possibility of default (by an entity that qualifies by the “old” definition of a banana republic ((both financially and rule of law))…but is now conveniently changed), we enjoy zero % interest rates because there is no risk?

 As the title suggests, I’m sarcastically waiting. I am waiting for verbal apologies. I am waiting for written apologies. I’m certainly not waiting for public apologies because that would be too embarrassing? To be honest, I have not written this piece to gloat and say we told you so, not for apologies, or any other reason than I am really really pissed! I knew that narratives would fail and at some point, truth would come out. I certainly did not think I would feel emotionally as angry as I do now. I am angry because we have been purposely divided with lies upon lies upon bigger lies. Hopefully, the masses wake up and think, “fool me once shame on you, fool me twice you’re a damn liar” but I would be dreaming if I believed this.

 To finish, now comes the scary part. We have been duly divided in every way imaginable, now comes the conquer part. As truth leaks out and anger increases, they must kick the table over to cover the lies and place blame. Will it be war? I would not bet against it, besides, there are many forms of war…like the one we have been fighting for our minds and liberties. If I had to bet, I would favor some sort of cyber attack/financial panic where a world more indebted than ever before is issued a “margin call”…and if we are lucky, services like water, electricity and other necessities (like food) are still available.

 File all of this under “conspiracy theory” if you wish, but it looks pretty clear to me!

Standing watch,

Bill Holter

Posted at 8:20 AM (CST) by & filed under Jim's Mailbox.

So Dave, let me get this straight, the most recent period shows THE worst total return for bonds at a time the central bank’s balance sheets have exploded by buying bonds? Am I missing something?

Bankster’s Mantra: ‘Privatization of gains, socialization of losses. Wax on. Wax off.’

Dismal Dave. (1943-so far, so good).

Posted at 9:19 AM (CST) by & filed under In The News.

Bill Holter’s Commentary

Quite significant, the narrative is unravelling. Should be pretty easy from here, follow the money but will they? Is it the deal breaker in the “confidence department”?

Military Documents About Gain of Function Contradict Fauci Testimony Under Oath
January 10, 2022

[WASHINGTON, D.C. – Jan. 10, 2022] Project Veritas has obtained startling never-before-seen documents regarding the origins of COVID-19, gain of function research, vaccines, potential treatments which have been suppressed, and the government’s effort to conceal all of this.

The documents in question stem from a report at the Defense Advanced Research Projects Agency, better known as DARPA, which were hidden in a top secret shared drive.

DARPA is an agency under the U.S. Department of Defense in charge of facilitating research in technology with potential military applications.

Project Veritas has obtained a separate report to the Inspector General of the Department of Defense written by U.S. Marine Corp Major, Joseph Murphy, a former DARPA Fellow.

The report states that EcoHealth Alliance approached DARPA in March 2018, seeking funding to conduct gain of function research of bat borne coronaviruses. The proposal, named Project Defuse, was rejected by DARPA over safety concerns and the notion that it violates the basis gain of function research moratorium.

According to the documents, NIAID, under the direction of Dr. Fauci, went ahead with the research in Wuhan, China and at several sites across the U.S.

Dr. Fauci has repeatedly maintained, under oath, that the NIH and NAIAD have not been involved in gain of function research with the EcoHealth Alliance program. But according to the documents obtained by Project Veritas which outline why EcoHealth Alliance’s proposal was rejected, DARPA certainly classified the research as gain of function.


Bill Holter’s Commentary

Did “Covid” conveniently save the financial system…for now?

Wall Street Banks Have an Alibi for their $11.23 Trillion in Emergency Repo Loans from the Fed – It’s a Doozy
January 6, 2022

From September 17, 2019 through July 2, 2020, the trading units of the Wall Street megabanks (both domestic and foreign) took a cumulative total of $11.23 trillion in emergency repo loans from the Federal Reserve. The loans were conducted by one of the 12 regional Fed banks, the Federal Reserve Bank of New York – which is literally owned by megabanks, including JPMorgan Chase, Goldman Sachs, Citigroup, Morgan Stanley and others.

The New York Fed is also responsible for sending its bank examiners into these same banks to make sure they aren’t plotting some evil scheme that will bring down the U.S. economy, as they did with their derivatives and subprime debt bombs in 2008. Unfortunately, if a New York Fed bank examiner doesn’t listen to the “relationship managers” at the New York Fed, and insists on giving a negative review of a megabank, she can find herself fired, as New York Fed bank examiner and attorney Carmen Segarra found when she went up against Goldman Sachs. Segarra provides a fascinating look inside the New York Fed in her book, Noncompliant: A Lone Whistleblower Exposes the Giants of Wall Street. (For mind-numbing other conflicts at the New York Fed, see our report here.)

As we’ve been reporting this past week, there’s been a complete mainstream media news blackout on the names of the banks that were feeding at the Fed’s repo loan trough. The New York Fed released the names of the banks and the amounts they borrowed for the last quarter of 2019 a week ago Thursday, and yet all those Fed watchers at Bloomberg News, the Wall Street Journal, the New York Times, Financial Times, CNBC, MarketWatch, and Reuters just can’t seem to bring themselves to publish even 100 words on the subject.

Banks were borrowing huge sums over short spans of time from the Fed’s emergency repo facility. As we previously reported, from November 12 through November 25, 2019 – a span of just 14 days – J.P. Morgan Securities, the trading unit of the megabank JPMorgan Chase, pancaked term repo loans ranging from 14-days to 42-days, together with one overnight loan, to amass a total of $30 billion outstanding at one time. (You can download the data from the New York Fed at this link, as well as the data it previously released for the last 14 days of September 2019 in its Q3 2019 release.)


Bill Holter’s Commentary

How many more “conspiracy theories” need to bite the dust of actual truth until people wake up and realize it is and has been ALL BULLSHIT?

It Turns Out that, If You Doubted COVID’s Deadliness, You Were Correct
January 11, 2022
Something peculiar has become clear over the last two years: leftists seem to enjoy the COVID panic. For them, it started with the camaraderie of lockdowns and morphed in the smug self-righteousness of the masks and vaccinations, all made shiveringly delicious with that soupçon of fear that pairs well with totalitarian mandates. CDC director Dr. Rochelle Walensky’s appearance on Monday’s Good Morning America, however, may destroy that delightful emotional castle in which leftists have immured themselves. It turns out that most vaccinated people no longer need fear imminent death.

It’s been very weird for those of us who have maintained some degree of objectivity about the whole COVID uproar to see leftists maintain their high degree of terror about COVID despite their being vaccinated and boosted. JP Sears perfectly captures the illogical combination of fear and the lust for power that has seen the leftists ramp up their paranoia even as omicron proves to be innocuous and they’re madly injecting mRNA treatments into their bodies:


Posted at 12:05 PM (CST) by & filed under In The News.

Bill Holter’s Commentary

If we might suggest, this should be printed out and be part of your bathroom reading!

The Eight Degrees Of Ignorance And Stupidity

January 8, 2022

By Darren Smith, Weekend Contributor

Our host on numerous occasions makes a strong case in labeling today’s zeitgeist as “The Age of Rage”. It would certainly seem to be so if one focuses on what stereotypically comes out of the news media and political figures we lend our ears to. Yet I would go a step further and suggest the root cause of some of this rage is composed of two elements: power-lust and simple human stupidity.

I believe many people fail to recognize how intertwined is the lust for power and the enabling forces of stupidity. Stupidity can be manipulated to achieve that power. It is said that money is the blood of the powerful. Yet, why spend money when too many can be so easily controlled or recruited for free simply by instead appealing to ignorant or stupid individuals.

Both sadly and obviously however, ignorance and stupidity is not limited to the news or politics, it is manifest in human society generally. The trick is to recognize and extricate it from our lives whenever possible. So in a mostly cynical and possibly comical study of the problem, I propose there are levels and flavors of both ignorance and stupidity and to apply such a study is a first step toward minimizing its damaging potential.


Bill Holter’s Commentary

Think this one through. If truckers cannot cross the borders, real life will be quite different and the financial system will suffer a fatal heart attack! Who knows, if SCOTUS caves in, Canadians won’t be able to come south if they’re unvaxxed either?

We Have Less Than Two Weeks to Finalize Preparation
January 7, 2022

I do not know how better to emphasize the points other than to be direct and brutally honest.  Sometimes you just have to call the baby ugly.  The window to prepare for the incoming crisis of our lifetime is now down to two weeks.  Hopefully, that is specific enough.

As we have discussed on these pages, the interventionist policies and regulations from the people creating the COVID response (writ large) have been fubar from the beginning. {Go Deep} When they shut down the restaurants and hospitality sector (2020 lockdowns), the advisors and bureaucrats triggered a cascading series of events inside the food supply chain {Go Deep}.

Every policy implementation since then has made matters worse {Go Deep}

Adding to the supply chain and inflation crisis, in about a week the vaccine mandate and subsequent commercial passport means 30,000 cross border truckers are about to get shut down from operating between the United States and Canada.


Posted at 11:58 AM (CST) by & filed under Jim's Mailbox.

Nice connection Dave, margin debt peaks just as interest rates are breaking upwards!


‘Capital must protect itself in every possible manner by combination and legislation. Debts must be collected, bonds and mortgages must be foreclosed as rapidly as possible.

‘When, through a process of law, the common people lose their homes, they will become more docile and more easily governed through the influence of the strong arm of government, applied by a central power of wealth under control of leading financiers.

‘This truth is well known among our principal men now engaged in forming an imperialism of Capital to govern the world. By dividing the voters through the political party system, we can get them to expend their energies in fighting over questions of no importance.

‘Thus by discreet action, we can secure for ourselves what has been so well planned and so successfully accomplished.’ USA Banker’s Magazine, August 25, 1924

Short AND long term cup and handle formation.
Very bullish.
Charts aside, central banks always try to cap gold’s price, but in the end they get overwhelmed.
Just like under Fed Chair Paul Volker in 1980.
Seems like we are very, very close to a breakout.
CIGA Wolfgang Rech
And many central banks are adding gold reserves, why? The culmination will be vertical!

Posted at 10:13 AM (CST) by & filed under General Editorial.

This call was made available for subscribers on January 8, 2022.

Please listen to this year end recap and vision for the coming year with Denny and CEO of TRX Stephen Mullowney.
The link will take a couple minutes to load but well worth hearing. Congratulations to Stephen and team for moving this property so far forward in just 12 months!


Posted at 11:30 AM (CST) by & filed under In The News.

Bill Holter’s Commentary

Alisdair MacLeod describes inflate or die with the “pin” of higher interest rates hovering right next to the enormous pile of debt which must be serviced. It’s only a matter of time!

Money Supply And Rising Interest Rates
January 06, 2022

The establishment, including the state, central banks and most investors are thoroughly Keynesian, the latter category having profited greatly in recent decades from their slavish following of the common meme.

That is about to change. The world of continual Keynesian stimulus is coming to its inevitable end with prices rising beyond the authorities’ control. Being blinded by neo-Keynesian beliefs, no one is prepared for it.

This article explains why interest rates are set to rise substantially in this new year. It draws on evidence from the inflation crisis of the 1970s, points out the similarities and the fact that currency debasement today is far greater and more global than fifty years ago. In the UK, half the current rate of monetary inflation for half the time — just for one year — led to gilt coupons of over 15%. And today we have Fed watchers who can only envisage a Fed funds rate climbing to 2% at most…

A key factor will be the discrediting of this Keynesian hopium, likely to be replaced by a belated conversion to the monetarism that propelled Milton Friedman into the public eye when the same thing happened in the mid-seventies. The realisation that inflation is always and everywhere a monetary phenomenon will come too late for policy makers to stop it.


Bill Holter’s Commentary

Inflation of the things we need and deflation of the things we already have?

This Time It’s Different

January 7, 2022

They should have known better.  Fed Chair Jay Powell and Treasury Secretary Janet Yellen, that is.

They spent the better part of 2021 saying consumer price inflation was ‘transitory.’  The two of them are most responsible for this inflation mess.  How could they have been so wrong?

Now the scourge of raging consumer price inflation is here to stay.  This, no doubt, will be a persistent theme in 2022.  Moreover, the Fed’s efforts to tame and control it will be a magnificent source of folly.

To begin, central planners, including central bankers, believe they’re masters of the universe.  That they possess the tools to, in Omar Khayyam’s words, “remould it nearer to the heart’s desire.”

The reality is central bankers are always reacting.  And much of what they do is merely an attempt to cleanup messes of their own making.

Ben Bernanke, then Fed Chair, first commenced the great quantitative easing (QE) experiment in late November 2008.  At the time, the Fed’s balance sheet was approximately $800 billion.  Now, just over 13 years later, the Fed’s balance sheet is over $8.7 trillion – more than 10 times higher.


Bill Holter’s Commentary

How many “simulations” in the past have become real? You can be sure all sorts of criminal activity will be erased (as well as many digital assets) should a scenario like this come to pass. What better way to hide the crimes than burning down the restaurant? As we have said before, when the lights go out, “you will have what you have…and that’s all you will have”!

International Finance Leaders Hold ‘War Game’ Exercise Simulating Global Financial Collapse. Should We Be Worried?
January 7, 2021

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High-level international banking officials and organizations last month gathered in Israel for a global “war game” exercise simulating the collapse of the global financial system.

The tabletop exercise was reminiscent of “Event 201” — the pandemic simulation exercise that took place in October 2019, shortly before COVID-19 entered the global scene.

The “Collective Strength” initiative was held for 10 days, beginning Dec. 9, 2021, at the Israeli Finance Ministry in Jerusalem. It was relocated to Jerusalem from the Dubai World Expo over concerns about the Omicron variant.

Israel led a 10-country contingent that also included treasury officials from the U.S., Austria, Germany, Italy, the Netherlands, Switzerland, Thailand and the United Arab Emirates.

Representatives from supranational organizations, such as the International Monetary Fund (IMF), World Bank and Bank of International Settlements (BIS), also participated.

Described as a simulated “war game,” the exercise sought to model the response to various hypothetical large-scale cyberattacks on the global financial system, including the leaking of sensitive financial data on the “Dark Web,” hacks targeting the global foreign exchange system, and subsequent bank runs and market chaos fueled by “fake news.”