Full Faith & Credit of a Bankrupt Insolvent Government – Bill Holter

August 14, 2023

by Greg Hunter USA Watchdog

Precious metals expert and financial writer Bill Holter says there is a long list of financial trouble coming to America sooner than later. There is the commercial real estate implosion, rising interest rates, an exploding federal budget, banana republic political problems, but the at the top of the list is the monster unpayable debt problem and the soon-to-be failing U.S. dollar. Holter says, “You can’t have a third of the federal taxes paid out in interest, and that number is only going to grow over time. . . . If the markets would not collapse ahead of time, which they certainly will, but if they did not, we would get to the point where the interest would eat up all the tax receipts. That is a mathematical impossibility. We’re broke. On the other side of it, we have two rules of law. We have one rule of law if you are a liar from the left and another rule of law if you are a conservative and you don’t support the bull crap rules they are putting out there. . . . This is an illustration that this country has already become a banana republic. The problem with that is the dollar issued by this country is the world’s reserve currency. It’s a huge problem.”

Holter says the dollar is going to take a big hit in the next financial crisis that has already started. When it hits, Holter predicts, “The actual bottom line is dollars are just pieces of paper backed by our government. The dollar is backed by the full faith and credit of a bankrupt insolvent government, and people will figure that out very quickly. When it comes to survival, people are not going to give up something real for nothing. . . .