Bill Holter: Chinese Join Currency War & Gold Backwardation is Back! – August 18, 2015
Did China just join the currency war? What will the world look like in 6 months? Bill Holter questions what will even be left…
Bill Holter writes and is partnered with Jim Sinclair at the newly formed Holter/Sinclair collaboration. Prior, he wrote for Miles Franklin from 2012-15. Bill worked as a retail stockbroker for 23 years, including 12 as a branch manager at A.G. Edwards. He left Wall Street in late 2006 to avoid potential liabilities related to management of paper assets. In retirement he and his family moved to Costa Rica where he lived until 2011 when he moved back to the United States. Bill was a well-known contributor to the Gold Anti-Trust Action Committee (GATA) commentaries from 2007-present.
Takeaways from this week’s interview –
• A devalued Yuan makes it almost impossible for the Fed to raise rates and Bill will be shocked if they do!
• The Chinese just reported a stockpile of over 1,800 tons of gold, but Bill isn’t buying it. So how much do they have?
• How the dollar becoming strong, may actually kill the dollar?
• Gold is back in backwardation, indicating a rising level of global fear
• An update on Ukraine and Greece