Is a “Mad Max” scenario a real possibility, and why should you hold gold & silver?
Precious metals expert and financial writer Bill Holter said in early April that he thought we did not have much time until the financial meltdown started. He gave it 60 days. Two months later, the meltdown started in earnest right on time. The world is at debt levels never seen before, and Holter contends rising interest rates are the key driver here and now. Holter explains, “Interest rates are the key to the whole collapse. Mortgage rates, as of right now, are about 6.15%. Mortgage rates started the year just over 3%. In the fourth quarter of last year, we had mortgage rates as low as 2.75%. What that tells you is if you qualified for a $1 million mortgage at the end of last year, you only qualify for a $500,000 mortgage now. If you are a property owner, that means the pool of potential buyers is far less than 6 months ago, simply because interest rates have basically doubled. Holter also says that means property values are dramatically cut.
Holter also talks about gold and silver and why you should hold them in hand. Holter thinks a “Mad Max” scenario is a real possibility and says we have not seen the peak on inflation. There is a lot more in the 44-minute interview.