Summary
➡ Central banks worldwide are buying gold to prepare for a potential currency crisis, which could lead to a drop in the value of the dollar. This is due to fears of a credit crisis in the U.S. and the possibility of moving towards a gold-backed currency. The banking system is also at risk due to a large amount of derivatives, which could lead to a financial crisis worse than 2008. It’s advised to protect personal assets by keeping low balances in banks and investing in gold and silver.
➡ The speaker discusses the upcoming election, suggesting that Trump is likely to win due to Kamala’s declining popularity. However, they speculate that there might be attempts to postpone or cancel the election due to the belief that it’s too big to rig. They also discuss the possibility of a ‘great reset’ regardless of who wins, which could lead to significant changes in the economy and society. They believe that the country is financially insolvent and that no matter who wins, the system is headed for a downfall.
➡ The text discusses the divide between union leaders and their members, with leaders endorsing Kamala Harris while members lean towards Donald Trump. It also criticizes the “woke” culture and its influence on various sectors, including the military. The text further discusses the potential consequences of the upcoming election, predicting unrest regardless of the outcome. Lastly, it questions the feasibility of economic recovery and the possibility of returning to a gold-backed currency system.
➡ The current financial system, heavily reliant on the US dollar, is predicted to collapse, leading to a period of economic hardship, particularly in the US. However, this downfall is seen as an opportunity to create a new, fairer system of trade. The change will likely cause inflation and financial difficulties, but it’s necessary for long-term stability.
Transcript
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Today we have a returning guest, Bill Holter. Bill is a financial writer, a gold expert. He helps people purchase gold and store precious metals. You can find all his work on billholter.com, and I am very happy and honored to have Bill back on the X 22 report. Spotlight, Bill. Welcome back to the Spotlight. Thanks for having me back, Dave. Hey, thanks for being here. And I wanted to get your take on the economy. Let’s just start off with that, because as we could see in the beginning of this year, the Fed was talking about cutting the rate, I don’t know, three, four, five times.
Now they decided to cut the rate one time right before the election, which is kind of odd because normally during the election they don’t do this, but they’re also talking about doing more rate cuts after the election. So when you heard the Fed was going to cut rates right before the election, what did, what were you thinking about? Why, why did you think they did this? Well, I mean, my first thought was it was political. And then, of course, the fact that it was a half a point cut, I mean, that has never been seen any time other than during a crisis.
So they cut rates a half a point and at the same time tell us that the economy is doing great, everything’s fine. They did the cut with stocks at all time highs. Housing is still, housing is not collapsed yet. That’s still to come. The only thing really that has been having a problem is commercial real estate. And of course, that’s going to weigh on the banks. I know you want to talk about the banks a little bit later on, but there’s a problem. And I think, I do believe that you’re going to see another repo crisis.
It could be before the election or after the election. But liquidity seems to be tighten. And when I say liquidity seems to be tight, what do you see China doing? China is just blowing currency into the system, and now they’re doing fiscal, fiscal cuts, and money supply is finally turning higher in the US. But for them to do a half a point cut, it’s either political, which the odds are pretty good on that, or there’s something really on fire beneath the surface that we don’t see. Yeah. I mean, for me, it seems like you would do a rate cut like this if we’re in a crisis, because it kind of reminds me of 2008, because if you go back to 2008, they were doing a lot of rate cuts in 2007.
And then when we entered 2008, we had Bernanke, the Fed, saying everything’s fine. But during that entire year, you saw housing completely implode. There were layoffs. I mean, yeah, the news wasn’t really reporting on that, but people felt it. Do you feel like it’s maybe mimicking or mirroring 2008 right now? Yeah. And today people are feeling it again and feeling it probably harder just from the cost of living going higher and wages not keeping up. It just, again, it looks political to me. But at the same time they’re telling us the economy is fine. And if you actually look at the numbers and you look at the adjustments afterward, whether it be two months, six months, a year later, they report these things and then they adjust them.
And to me, I think we’re, we’re in a recession. I actually don’t think we really had anything other than a recovery from 2008. There was a recovery, but I don’t think we’ve had growth. I mean, we have been on, the system has been on financial life support since 2008. So that’s, what is that, 16 years now? You’ve had fiscal, massive fiscal expansion and you’ve had massive monetary help. Why can’t the system stand up on its own? We have Janet Yellen. She’s telling us we’re coming in for a soft landing. The Fed cut the rate, telling us that they got inflation under control, but you’re seeing gold continually move up.
I remember talking to you way, way back when gold was under 2000. Now we have gold way above 2000. I think it’s approaching 3000 now, getting very, very close. I mean, would gold be reacting to a strong economy or is gold actually telling us some type of story? Yeah, gold is telling us a story. And that story is de dollarization. If you go back, you look at the chart on gold and then you look at the timeline of what actually happened. Go back to October of last year. So it was a year ago the US announced that they were going to sequester the 300 billion of russian treasury reserves and it was what, a month, two months back that they floated the idea of using those bonds as collateral to borrow against, to give money to Ukraine to fight Russia.
So, I mean, Russia’s assets are going to be used against them. I think the rest of the world looked at that and said, hey, wait a minute, if they could do this to Russia, they can do it to us. We better do something so that they don’t do it to us. And what you’re seeing is you’ve seen sovereign central banks, sovereign treasuries, sovereign wealth funds buying gold like crazy starting a year ago last October. And that’s basically the huge demand that’s driven the price. From 1700, it’s up $1,000. It was 1700 a year ago, it’s 2700 now.
I never thought I see this because Costco selling 1oz gold bars and they’re selling out. You go back a couple of years, if you told people, listen, Costco is going to be selling gold and people are going to be buying it. People go, why would that be? What? I mean, why do you think people are, even with the price of gold going up, they’re still purchasing it? Well, they’re doing that because they know something is wrong. And just human nature going back thousands of years, man understands that. They’re saying, he who has the gold makes the rules.
In this case, it’s he who has the golden protecting himself and just human nature. Man has flocked to gold during bad times or when they expected bad times. And you don’t have to go back 100 years. Prior to 1933, gold and currency were interchangeable. So typically, if you are bearish on the economy, if you are bearish on markets, what do you do? You go to cash. Before 1933, cash and gold were the same thing. Because you could walk into a bank with $20.67 and walk out of the bank with an ounce of gold. What you’re seeing, I think, are central banks leaving dollars and going to the ultimate cash, if you will, because gold is accepted anywhere around the world.
It’s the most liquid asset and most desired asset. And the central banks, they are on loading gold to their balance sheet because they understand that there’s going to be a problem. There’s going to be a currency crisis. There’s going to be a, a sovereign credit crisis in the US. And what that’ll do is the average central bank holds close to 60% of their reserves in dollars. And they know that that 60% is going to drop to 50, 40, 30, whatever, depending upon how severe the drop is in the dollar. And they’re trying to prepare for those losses that they believe or know they’re going to take.
And they’re doing that by onloading gold, which will inversely move and it’ll fill up the holes on their balance sheets. So do you think with the currency crisis and everything that’s coming up, do you think that we would go back to a gold backed type of currency? Well, the BRICS are going to have a gold slash commodity back funds. We don’t know when that’s going to be announced. I don’t think they’re going to announce it next week at their, their meeting in Russia from the 22nd to the 24th. I do think they’ll come out with a communique that will probably be strongly worded warning that this thing’s coming.
Now as far as the US is concerned, obviously they don’t want to do that. They would just prefer to do a digital currency with no backing whatsoever. But for world trade, I do believe we’re going to have to have some type of backing and preferably gold. Obviously the world would prefer it to be gold through the currency in order for us to settle trade. The way it stands now, you’ve got the bricks forming and at some point in time they’re going to say, you know, we’d love to trade with you, but we’re not going to accept dollars.
We want something real for something real. So the US may be forced into having some type of gold backed currency. None of these currencies will be convertible. So I mean, if the BRICS do come out with a memo saying, you know, we’re moving towards gold, I mean, this would destroy the fiat currency here in this country. Yeah, it would destroy the fiat currency because the price of gold would explode. And it does act as a thermometer even though it’s been severely hampered with paper contracts. But if you saw 5000, $10,000 gold, that basically is, it shows a break of confidence and confidence will break in.
The system has been held up literally since 1971 when we went off of gold. It’s been held up by confidence and confidence alone. Yeah. And then if you look at the banking system, because they’re knee deep in derivatives and I think there’s a lot of banks now that are closing a lot of branches. I just think, I just read bank of America is closing a lot of branches, banks are in trouble. A lot of them are pointing to bank of America. I think they have a lot of derivatives on their books. So do you see what we saw back in 2008 when they said too big to fail? Are we going to see banks collapse under the derivative bubble bursting? Yeah, I think I’ve been on record for this, on this for years.
Yeah, derivatives are going to blow the entire system because derivatives are bigger than the entire system. There’s more derivatives outstanding. The numbers, somewhere over 2 quadrillion. That’s far larger than all the assets on the planet. I would guess all the assets on the planet probably don’t reach a quadrillion. Wow. Oh, and one other thing, Dave, you mentioned comparison to 2008. What we’re headed for is going to be 2008 on negative steroids. I mean, this is going to be so much worse. And I don’t believe there’s going to be bailouts. I mean, the FDIC had told us back in what, 2014 to 15 that going forward there would be bail ins.
And that fits right into what David Rogers Webb has written regarding the great taking. I urge everyone to read the great taking. It is not speculation. These laws are on the books. And what basically the laws have written is that if your bank goes down or if your broker goes down, or if your insurance company goes down, what you believe is a deposit, or your stocks or your account with the insurance company, those are for your benefit. But the true ownership is by the institution. And if that institution goes down, your assets are going to be gone and they’re going to do that on a mass scale.
So it differs from 2008 in a couple ways. One, this is way, way, way bigger than 2008. And in 2008 there were bail outs. This time around there’s going to be bail ins and it’s going to be the customer who saves the system but gets destroyed personally, financially. So just so everyone understands, when you say bail in, I think what you’re saying is that they’re going to take your assets, your currency, whatever you have in the bank to save the bank, right? They’ll take your bank account. You are no longer a depositor. You are a creditor, and in fact, you are the most junior of all creditors.
So everything has to get paid off before, before you get any money back. Your broker, your stocks are held in street name. And what that means is street name is the name of your broker. They’re not in your name. If you have stocks, you should contact your broker. Tell them to send the shares to a direct register. Once the transfer agent has those shares, tell the transfer agent I want my certificate. If you have a certificate in hand that is proof positive of your ownership, you directly own it. There’s no one in between you and the ownership of whatever company you own.
The way it stands, if you’re, if you have an account with a broker, your broker owns those shares. If they run into trouble, those shares are going to be used to bail out your broker. So basically, you know, I talked about it. Jim Sinclair talked about it for years. You need to get out of the system because the system is going to gobble up your assets. And what about, I mean, the FDIC covers, I mean, if you have a bank account, they’re doing a bail in and you have currency in the bank, I mean, people are going to say, well, let’s talk about our health.
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Once again, that is healthwithx two.com. or simply click the link in the description. I have the FDIC. You know, they’re going to cover my $100,000 that’s in the bank. I don’t have to worry about that. Good luck. I mean, FDIC, all you’d need is one big bank to go down and they don’t have enough. I mean, that wipes out the entire fund. I think it’s $125 billion. That’s completely pissing into the wind. Don’t depend on FDIC. No one is going to protect you except for you. You need to protect yourself. You need to keep low balances in banks.
Your savings should be in gold and silver. You need to get your stock certificates. You need to get out of the system and have as few entities between you and your money possible, if any. Like if you hold an ounce of gold or you hold a stock certificate, it’s in your hand, it’s yours. But within a bank or with a broker or an insurance company, you have that company between you and your money. If that company goes down, you’ve lost it with what you’re seeing in the economy right now and the Fed doing more rate cuts, and I think a lot of the, I know that a lot of the numbers are manipulated.
I mean, they didn’t create almost a million jobs. Inflation hasn’t gone away. Do you see this happening? I mean, we only have a couple of weeks, but two, three weeks until the election. Do you think something’s going to happen before the elections or do you think something’s going to happen after the election? Well, mathematically, something is going to happen. I was on record last November saying I thought there was only 50 50 chance that we’d even have an election. Now, we’re less than three weeks out. And I’m going to tell you, generally, like an option, as it decays, as you get closer and closer to the final date, there’s less and less of a chance of whatever you bet on happening in this instance because Kamala is imploding.
I mean, you look at the betting sites, Trump’s up by 24 points now. And a week ago was tied. So it’s pretty clear at this point. You look at the poll numbers, you look at the betting markets, Trump’s going to win this, a, if he’s alive, and b, if we have an election. And when I say if we have an election, who knows what could be done in the next two and a half weeks? But it just seems to me that the powers that be, they now know that they cannot cheat enough to win. So that makes this extremely dangerous.
And who knows what’s going to happen in the next two weeks to, quote, cancel or postpone the election. So you don’t think they can do what they did back in 2020? You don’t think they can create or generate enough ballots? The people with him are too big. It’s too big now. Yeah, it’s too big. And you got too many people watching. They can’t do what they did in, in 2000 where they, you know, what, four different states or five different states all of a sudden stopped counting because of a water leak or this or that? No, I don’t.
I think it’s too big to rig this time. So I think they know that. So you think they’re going to let the election go through and most likely Trump will win, but they’ll try to do something, I guess, during or after the election to try to hold it up? No, give me your scenario. Yeah. What I’m saying is that because it’s too obvious at this point that Kamala’s numbers, I mean, the interview she did last night with Bret Baier, how could any person look at that and believe the woman has any type of brain at all? So her numbers are absolutely collapsing so her handlers, the elite left, whatever you want to call them, they know she can’t win.
So it’s my belief. I think we’re. We have a better at this point, better than 50 50 chance that there is no election. But how would they make it where there is no election? They just can’t say, hey, by the way, everyone, Kamala’s losing. We don’t want to have an election. Speaker two. Dave, at the risk of getting you kicked off of another channel, I don’t know if you could or nothing. Hopefully not. I helped you with YouTube. That was my pleasure. But with the risk of getting you kicked off, who says they don’t nuke a city, pick a city and blame it on Russia, blame it on Iran, whatever.
Would that be enough to not be able to have an election? Yeah, I think something like that would or something. Who knows? I mean, who would have thought? And I mean, at this point, there’s no question about it. Weather modification is absolutely real. It’s been real since the 1960s. All you have to do is read government websites to know that, yes, they can control the weather. Who would have thought that they could have created, and this has never, ever happened before, a tropical storm at 35 miles an hour. Within 24 hours, it’s 200 miles an hour.
And where did Helene go? Helene blew out rural parts of Florida, of Georgia, of North Carolina. I mean, that’s basically disenfranchising voters, and that doesn’t look like it worked. These people, there’s nothing. There’s nothing beyond what these people will do. So if that’s the case, and if I’m correct on that, then you should not be surprised by anything that happens prior to the election, because at this point, it only behooves the Democrats to not have an election. Otherwise, they have to give up power. And if they give up power, then the law fair that they’ve been using for the last four years is going to be reversed and used against them, and you’re going to see a lot of people going to jail and a lot of treason charges.
Right now, there’s. I don’t think there’s anything in the constitution that, you know, explains that. You know, the elections can be postponed or you have to have the election. So, I mean, how long can they put it off for? What else? Maybe as long as they want to put it off. Who knows? And, Dave, I do want to mention. Okay, so let’s assume that we do have an election. And if we do, I assume that Trump is going to win. It’s not going to make any difference from a financial standpoint. I think it’ll make a difference from the standpoint of the rule of law.
But this thing is still going down no matter what. Mathematically, the country is insolvent, it is bankrupt. And Donald Trump, there’s nothing he can do to save the system. But my hope is that when we go down, we go down under the rule of law, under the Constitution, as opposed to going down under a group that wants to alter, change, get rid of the constitution. They want to pack the Supreme Court, they want to get rid of the filibuster, basically. They want to run everything and tell you every single day what you can and what you cannot do.
Do you think they timed the rate cut for, I guess, Trump’s reelection so the economy falls apart on his watch? If he, you know, because I guess what they were thinking, if he wins, you know what? We’ll have it fall apart on his watch and we’ll time it. And if they win, well, they can most likely bring us into the great reset and they can use that to their advantage. Well, we’re going into the great reset no matter what. It all depends on what this great reset looks like. And I guess that goes back to what I was saying.
We go down under the rule of law or under the rule of their law. You’ve got the WEF that has a vision of a great reset. And if Kamala were to win, that’s where we’re headed. Trump wins. We’re still going to have a great reset, but it’s not going to look like the Klaus Schwab Wef great reset. What’s going to happen is markets are going to get smoked. They’ll close. And I don’t know if we’re going to start from scratch all over again, but this system is going to close. And once it does begin to reopen, you’re going to see vastly different prices in relation to paper versus hard assets.
You will see a massive inflation reflation of whatever, of real assets. This goes back to what I’ve said all along. We will have inflation of the things you need and deflation of the things you have. And once that is in place, there’s a pretty great reset. Do you think the markets might stay up when the banking system and the powers that be realized that Trump is? You don’t think so? No way. Well, I mean, if banks are closing, if the banking system is completely sputtering, what does that do? It means that credit is not easy to get, it’s not forthcoming, and you and I have talked about this a dozen times.
The system runs on credit. If you shut credit off, you shut the system up, you shut the real economy down for lack of credit. Let me ask you this. I don’t know if you saw this, but Trump was saying that Jamie Dimon was endorsing him. And then Jamie Dimon and Chase, JP Morgan Chase said, there, we are not endorsing any candidate. Do you think that was odd that Trump said that Jamie Dimon is endorsing him? I mean, what are your thoughts on that, speaker one? Well, yeah, I mean, Trump, Trump says some things that are odd, but I mean, Trump’s Trump.
And I, in my opinion, it doesn’t matter whether JP Morgan or Jamie Dimon endorsed Trump or Kamala or, you know, Mister Magoo. I don’t think it makes, it’s meaningless. I just thought it was very interesting because JP Morgan, don’t they have a lot of silver? Don’t they have a lot of derivatives? Don’t they? I mean, if the system’s going to go down, I’m wondering if, like, maybe Jamie Dimon is going to be like, okay, I need, we need help from Trump. We, Kamala and team, they’re not gonna be able to do it. Could be. Yeah, that could be.
That’s, that’s very possible that he was trying to line up future help. If Trump wins, who knows? Like I said, it’s not important. What’s more important is when you look at firefighters or teamsters or some of these big unions that are not endorsing anybody because their rank and file is probably slightly tipped toward Trump. You got the head. I think. Forget what it was. I think it was the firefighters, just for the last couple days, said that they’re not endorsing anyone but the high up echelon of that union, they endorse Kamala. So what does that tell you? That the rank and file does not agree with the higher ups.
And I think that’s more important from the standpoint of those are votes. Yeah. I mean, I think you see that throughout the country. I think you see that the people everywhere. Yeah. With Trump and the higher ups and even corporations and Hollywood, and they’re therefore Kamala and the everyday person who’s struggling, who’s trying to make ends meet, therefore Trump. And I think you’re seeing the separation now. I mean, even with the teamsters, with the firefighters, with everyone else, you’re seeing it. Yeah. Because if you, if you read through the lines, if you connect the dots, this election is about woke versus not woke.
And I really think, I mean, if I was an advisor to Trump, you know, he, they’re all using specific instances of, you know, this whoa thing is stupid. I, the average person looks at it and agrees, yeah, it’s stupid. I would advise that they go and talk about woke as a concept. And yeah, you could name two, three, four different things that are all, you know, ridiculous. But I think it would be good to hear that if you vote for me, we’re going to get rid of all of this woke stuff, all the DEI stuff, you know, we’re going to go back to, someone gets a job, whoever is most qualified now, what color their skin is or whatever, and if you get Kamala, we’re going to go, you know, 24/7 full on toward woke stupidity.
And I mean, who wants to get on an airplane? You got, you have Faae controllers that get out of school and boom, all of a sudden they’re in the tower and they’re running things. You’ve got Dei hires working on Boeing planes, you’ve got dei hire mechanics. I mean, that’s just one thing. Airplanes, you could pick almost any topic that some of these idiotic companies have gone woke on. And I mean, the saying go woke, go broke. It’s, it’s so very true. It really is very true. I just want to bring up, well, and Dave, our military has gone woke.
Yes, they have. That’s, you know, some of the stuff you could laugh at, go, yeah, haha, that’s funny. It’s not so funny when we got generals and admirals or whatever coming out in public with high heels and skirts on. Do you really think that scares the shit out of China or scares Putin? The whole world is laughing at the United States. We are the laughing stock of the world. And actually you can use that as a title because that says it all. If they’re not threatened by us or they’re not afraid of us because they’re seeing the soldiers in high heels and makeup and complaining about they don’t get money for transitioning.
Does this mean I, since Iran actually attacked, I guess, cyber attack, Trump administration got some information, the reporting that Iran is behind the assassination attempts against Trump. Do you think we’re going to enter like a conflict, a war or something because of all this? Because I think Biden was just out there saying, I don’t view Trump as, as a warmonger. I think, I think he’s good at bluffing. I mean, perfect example. And, you know, maybe they’re not bluffs. Maybe, you know, maybe he would follow through with some of the things. But, I mean, I just, I don’t see that the rest of the world looks at the United States.
They see our generals and admirals in skirts and, and high heel pumps and they laugh. But it also has got to scare them a little bit from the standpoint of what was a rational conversation five years ago or ten or 20 years ago. Those conversations, they can’t be had because you’re talking to people on the other side that have a mental illness, a man wearing a dress and thinking, that’s cool, in front of the us public, in front of the troops, in front of the rest of the world. It’s got to scare the rest of the world that these people, they’re not rational to begin with, and they got their finger right next to a red button.
So it’s got to scare the shit out of the rest of the world along with laughing at it. What I was saying before is that, like, Biden came out and said, listen, if you assassinate Trump, that is an act of war. And he was speaking to Iran. What we’re seeing now, there you go. That’s a, that’s a twofer. You get two for one on that. Yeah. Kill Trump and you start a war. Two things that they want. So. Yeah. So do you think they’re projecting out there that they’re, they’re going to head in that direction? I hope not.
I mean, at this point, anything, anything and everything can happen. I mean, there’s no way at this point, for anyone who’s not on the inside and knows what the actual plans are, there’s no way to handicap what’s going to happen. When you say we’re going to have a delay in the election or no election, let’s say, I’m just going to use a scenario. Let’s say Trump wins. Well, I didn’t say that’s what’s going to happen. I said I think there’s a high probability that, at least a 50 50 probability that we don’t have an election. Just to clear that up.
I’m not saying no, we’re not going to have an election. I’m just saying there’s definitely a possibility that something happens and we do not have. Well, do you think, I mean, with the public here in the United States watching this thing. Well, wait a minute. We went out, we voted, and now we don’t have an election. Or maybe before they say we can’t vote. Do you think the people are going to accept this? The people are going to say, or they going to demand some type of an election? Good question. And I’ve talked about this before.
I think no matter what happens, if we have an election, no matter who wins, there’s going to be massive unrest. If Trump wins, money will flow into the United States to pay thugs to burn the cities down. Kamala, were to win, there would, there would be all kinds of signs of fraud. And I don’t think that the conservatives who have been to this point have been law abiding, polite citizens. I think they’re going to lose that abidance to the law, and they will lose their, their politeness. I do believe there will be unrest no matter who wins.
And if there’s not an election, who knows? I mean, that’s above my pay grade as to what could happen there. But whatever it is, it’s not going to be good. I mean, from the people that I speak to, they’re hoping that the election is done, Trump wins, and they’re saying, okay, once that happens, everything is over, everything’s good to go, everything is fine. And I, mathematically, we’re broke. How is everything fine? I mean, how is Trump going to reverse mathematics? He can’t do it. This cake has been baked over the last, well, literally since 1913 or since 1971, whatever.
Whatever dates you want to use. But this cake has been in the oven for at least 50 years. And this is not something that Trump can wave, imagine won and everything’s good to go? That’s not the case. This country is insolvent, it’s bankrupt, and there’s going to be a default. I’m not saying there’s going to be a nonpayment default. What’s going to happen is the dollar is not going to buy squat and the never pay model will be understood for what it’s been all these years. The never pay model. What about moving forward when Trump is saying, ok, we’re going to drill like crazy? Going to, we’re going to, you know, have all this oil, we’re going to sell it, we’re going to bring tariffs, we’re going to, I’m not saying this is on day one, but I’m saying moving forward, almost like Malay in Argentina, he went in there, he cut all the positions of government.
We have Elon coming in, he’s going to, you know, cut the government, hopefully, maybe by three quarters, I’m hoping. And when you start doing all these things, I’m not saying this is going to turn the economy around in one day. Do you think that over a period of time we could start to recover and actually maybe move into a goal backed system, move back to the constitution. Do you think that is a possibility? Now I do believe your final analysis of going to a gold backed or commodity backed currency. Yeah, I think that’s going to happen.
But when this thing goes down because of the derivatives that are outstanding, there’s no entity or collection of every sovereign central bank, every sovereign treasury on the planet could try to prop it up. It’s too big. It’s too big to bail out. The derivatives are going to tank the entire financial system. We’re basically going to start from scratch. So your optimistic view. Yes, at some point in time we are going to recover. At some point in time the world is going to rebuild and reboot a system. Notice I’m not saying the system because the system as it is right now is going to be gone.
When I say the system, I’m talking about dollar hegemony and basically the US’s ability to import real goods and export papers that have or paper that has no value. That’s what the, that’s, that’s what the BRICS is all about. They want free, fair settlement of trade. So I mean, what you’re saying is the old system, we’re going to go through a period of time where the old system is gone, but we will be coming into a new system. I mean the system today, I think it’s run its course. Yes. Yeah, okay. Yes, and I think absolutely.
But, but you can’t go forward with the current. I agree with dollar the way it is. The dollar itself has got to change. And if you didn’t change anything else, if you just changed the dollar, man, what a difference that would be worldwide. It would be. And there would be serious pain in the US because, you know, we’ve eaten our seed corn, we’ve lived on the credit card and now the credit card, basically the dollar. Losing reserve currency status is like cutting the credit card in half. It’s shutting the credit loan down. Yeah, there’s no more loan sharks, there’s no more continually borrowing and laundering the money.
All that kind of disappears. Well, what happens is you’ll have sellers and nothing but sellers worldwide of treasuries. Those dollars are going to come home, inflation is going to explode, and the last and only buyer of any resort whatsoever of treasuries is going to be the federal reserve. And they’re already technically insolvent and losing money every week. Yeah, I mean, when you look at their graph, it’s like straight down. It’s awful. It’s overdeveloped. Yeah, this whole thing is over. Dave. Hey, Bill. Thank you very much for being on the x 22 report spotlight once again. If people wanted to get in touch with you or see your work, where should they go? Just go to my website.
It’s simply billholter.com dot. There is a. And people. People don’t typically poke around and know this. There’s four tabs up on top. One of them is interviews. And I post all my interviews there. So if you’re interested in seeing any other of my interviews, they’re all posted there. There’s also an icon up top called Grizzly’s corner. And if you want information on prepping, the guy who’s written into this very good friend of mine, he’s written probably a dozen different articles on prepping. And I would put him next to Grizzly Adams as far as send them into the woods and wondering which of the two would come out okay.
I mean, the guy knows, knows how to survive and some really good information there. If you do want to reach me, there is a button there, a contact button. Or if you want to go directly to my business email, it’s b h o l t e rton Meredith. Great. I’ll put all the links at the bottom of the video. Bill, thank you very much for being on the spotlight. I really appreciate it. Thank you very much. Thank you, Dave. Thank you.
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