by Greg Hunter
USA Watchdog
Back in February, when everyone was predicting a Fed rate cut, precious metals expert and financial writer Bill Holter said rates would be going up and not down. Since that call, the 10-Year Treasury is up more than 30 basis points. It closed today at 4.67%. Now, Holter is still calling for higher interest rates that will coincide with higher gold and silver prices. Why? It’s called inflation, and it’s not temporary. Holter explains, “Foreigners are backing away from buying Treasuries. That is the only thing that has kept the doors open, so to speak, is the fact we are able to borrow an unlimited amount of money because we are the world reserve currency. Foreigners backing away from our debt is going to lead the Federal Reserve to be the buyer of last, and then, only resort. So, you will have direct monetization between the Fed and the Treasury. What that will cause is a currency that declines in purchasing power. It will decline in a big way, and it will decline rapidly. So, what I am describing is inflation that turns into hyperinflation.”