by SGT, SGT Report.com:
Bill Holter whose work you can follow over at Jim Sinclair’s JS Mineset is back and Bill says “Something Just Happened”. In fact, something changed three weeks ago and a series of events began which has led to a cascading collapse in global markets and some very strange happenings in the precious metals markets.
In silver last week there was confirmed volume of 122,482 contracts traded in a single day which represents 612 MILLION ounces of physical silver … or over 87% of annual global silver production. Meanwhile China has sold $100 billion worth of Treasury bonds over the last two weeks.
Bill warns, the leverage in all markets suggests a “holiday” will occur because the unwinding cannot be orderly. The “unwinding” by the way will need to undue the credit built upon credit going all the way back to Aug. 15, 1971.
Mr; Holter concludes: “We’re going to have an absolute Biblical collapse of our standard of living, and no one even has a clue that it’s coming.”
Oh, and one last note. The current 1980 inflation adjusted all time high for silver is $601 according to John Williams at Shadowstats. And that doesn’t account for all of the paper metals fraud in the system. Please bear that fact in mind as you consider what life may look like after the collapse of the Petro Dollar’s purchasing power.