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Jason Burack of Wall St for Main St interviewed returning guest, precious metals expert and author on JS Mineset http://www.jsmineset.com/, Bill Holter.
Bill has decades of experience working in the financial industry and he now works in collaboration with "Mr. Gold" Jim Sinclair doing weekly podcasts and also writing articles (pay subscription required for most content). Bill's articles can be found here:http://www.jsmineset.com/category/bill-holter/
During this 20+ minute interview, Jason starts off by asking Bill about his article he published the end of April (<http://www.jsmineset.com/2016/04/26/this...)why he thinks that the global financial system won't last until October.
Bill talks about the problems in the credit and derivatives markets and how the real economy, which is dire and collapsing in his opinion, cannot support the amount of credit/debt already in the global financial system.
Jason and Bill discuss the debt problems in the global economy.
Next, Jason asks Bill about the class action lawsuit Jim Sinclair is filing against Deutsche Bank after they admitted manipulating the gold and silver markets. Jason asks Bill if precious metals investors who have lost many thousands of dollars each are allowed to join the lawsuit? Bill says there will be multiple lawsuits filed but the current lawsuit is for gold and silver mining companies.
Jason and Bill discuss if the US Treasury market can support the Saudis dumping all of their US Treasuries at once and the spike in open interest on the COMEX.
Bill thinks that the perfect storm for silver is now here now that annual silver supply is declining thanks to base metal miners shutting off mines or going bankrupt, strong demand for physical silver and the US Dollar strength appears to have topped.
Bill thinks this will be the precious metals bull market where investors NEVER sell their physical metal or their best gold and silver company shares because currencies are going to collapse all over the globe.