HUGE NEWS! Prepare for 5x Gold & 10x Silver. This Is the BIG ONE, Bill Holter
HUGE NEWS! Prepare for 5x Gold & 10x Silver. This Is the BIG ONE, Bill Holter
Finance Log: 9-17-2023
The renowned analyst Bill Holter believes those who possess gold and silver could become their banks in the future.
These precious metals might be the collateral or backing for any potential new currency emerging following a financial crisis.
Holter doubts the success of Central Bank digital currencies (CBDCs), viewing them as similar to traditional fiat currencies and lacking the ability to inspire trust.
Instead, he envisions a scenario where gold and silver maintain their value and play a foundational role in establishing a new currency system supported by tangible assets.
The record streak of central bank gold purchases that began in 2022 has also driven investors to allocate the largest percentage of their portfolios to the precious metal since 2012, according to a newly developed metric unveiled in a recent report from analysts at JPMorgan.
In the first six months of 2023, Central Banks worldwide acquired an unprecedented 387 tonnes of gold, marking the highest H-1 purchase of gold volume since 2000, when the World Gold Council began recording such transactions.
Holter explains that central banks are buying gold because they understand that the U.S. dollar is under pressure, and they hold significant dollar reserves.
As the dollar weakens, it creates a significant liability on their balance sheets, which they seek to hedge by acquiring gold. In this context, gold is a way to protect against currency devaluation.