by Greg Hunter
USA Watchdog
Precious metals expert and financial writer Bill Holter warned in August of financial trouble coming to America sooner than later. He gave a long list that now includes a global war. Even without war, there is no stopping the financial fall that is coming. Central banks are, once again, the biggest buyers of gold this year. What is going on? Holter says, “The central banks fully understand the math behind the financial system of the West is broken. The Western financial system cannot survive the math. . . .Once we got to 0% interest rates on the bottom, the rates could not go down any further, and the debt continued to pile up. The U.S. Treasury is going to be paying $1.5 trillion a year just in debt service. That number, a few years ago, had been around $400 billion a year. So, the debt service has quadrupled, and there are no more tricks in the bag.
Holter thinks the Fed is being forced to prop up the dollar and explains, “They have to keep interest rates up; otherwise, the dollar is going to be sold. You are already seeing that in the Treasury markets. . . . That is the reason you are seeing interest rates spike as hard as they have. We are up to about 5% on a 10-year Treasury. . . .