Bill Holter of MilesFranklin.com contends the banking system is
interconnected and very weak and explains his point by saying, “Look at
what happened when the Swiss dropped their peg to the euro. That
basically has tanked the Austrian banking system. The Austrian banking
system is on the verge of collapse because they lent in Swiss Francs.
The strength in the Swiss Franc makes those loans much more difficult to
pay back. That’s thrown the entire (Austrian) banking system out of
kilter. If you do that with the dollar and you raise rates, and the
dollar gets strong or spikes up 5% or 10% overnight, what’s that going
to do to banks all over the world? That’s going to create a smoking
black hole of derivatives.”
Join Greg Hunter as he goes One-on-One with precious metals and financial expert Bill Holter. (This is an Early Sunday Release)
http://usawatchdog.com/fed-rate-rise-...
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