Petro-Ruble Takes Down Dollar & Drives Up Gold – Bill Holter
By Greg Hunter’s USAWatchdog.com
Precious metals expert and financial writer Bill Holter said that at the end of last year, both the lies and money printing were going to get much worse. Holter predicted, “The risk for a meltdown from these levels, the risk has never been higher or could be higher than it is right now. You have got everything going in the wrong direction. . . .” Fast-forward to today, and you see huge inflation, economies wrecked and Russia demanding payment for oil and gas in rubles. Holter explains, “This is the biggest news since 1973 when oil started being backed by the U.S. dollar. There is nothing bigger. Understand, Gaddafi (Libya) did this. Saddam Hussein (Iraq) talked about the gold dinar, or a gold backed currency, and what happened? They got killed, and their countries got invaded and their gold stolen. This time is different because you are not going to have the U.S. military go into Moscow, depose Putin and steal their gold. . . . From a Russian standpoint, they are selling Russian goods, they want to be paid in rubles and they want to buy gold. . . . They are not provoking a war, and they are not provoking the west, but they have created a currency war between the ruble and the dollar. What happens with the arbitrage is the world does the dirty work by making a profit if western gold is too cheap. It’s brilliant.”
So, the dollar will get creamed in buying power? Holter says, “It’s already getting creamed in buying power. This will ultimately affect all financial markets. It’s going to affect credit markets. Don’t forget, the dollar is a creation of credit. . . . This is basically a natural way of destroying a financial Ponzi scheme. . . . All Putin is saying is I want what’s best for Russia. We are going to sell our goods, we want to be paid in our currency and we are making it real by basically backing it with gold. We want real and fair settlement. . . . In what world would anyone have imagined that it was the ruble that took the dollar down? That’s what it looks like is going to happen.”
Holter says get ready for extreme financial problems in the not-so-distant future. Holter warns, “I think we are headed for a calamity in the very near future. . . . I think, at this point, it’s a coin flip that we do or don’t go through a Mad Max world for a spell. Is that spell a week, two weeks, two months or more? I don’t know. I do fully expect disastrous times. . . . This is going to be 2008 on steroids.”
Join Greg Hunter as he goes One-on-One with financial writer and precious metals expert Bill Holter of JSMineset.com for 4.5.22. (There is much more in the 48 min. interview)
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