Advertise | Bookmark | Contact Us | E-Mail List |  | Update Page | 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page >> News >> Story  Disclaimer 
Latest Headlines

Silver – 1993 and 2001 Repeat
By: Gary Christenson

The Newmont-Goldcorp Deal Is Positive News for Gold Mining
By: Frank Holmes

Northern Vertex Mining Presents a Video of the Moss Gold Mine, NW Arizona, USA
By: Northern Vertex Mining Corp.

Gold Holds Steady Near $1,300/oz As Geopolitical Risks Including Brexit Loom Large
By: GoldCore

Gold Seeker Closing Report: Gold and Silver End Slightly Lower in Mixed Trade
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 1 15 2019
By: Ira Epstein

Gold and Silver 2019 Price Forecast
By: Craig Hemke

Gold: An Institutional Stampede Into Miners
By: Stewart Thomson

Gold dollar vs Greenbacks: Civil War and After
By: James Anderson

2018-2019 Pop Goes The Bubble
By: Darryl Robert Schoon


GoldSeek Web

Why don't you listen to them? ...revisited.

 -- Published: Thursday, 11 December 2014 | Print  | Disqus 

By Bill Holter

  A few weeks back I wrote a piece titled "why don't you listen to them?".  The subjects were Paul Craig Roberts and David Stockman because both were previously employed at top level positions in Washington and are both are trying to warn a sleeping American population as to what is really coming.  At the time, I thought is was important to highlight their on target logic exactly BECAUSE they were from inside of Washington.  I'd like to do the same type of analysis again but instead choose another individual with a very long term track record from the private sector. 


  This past week, Bill Gross reiterated the dire warning he's given in the recent past.  Bill Gross has been dubbed "the Bond King" has had more assets under management than anyone over the last 25+ years, to say he has a little experience under his belt is putting it lightly.  He has also lived and invested entirely inside the box his entire career, he may be seeing a problem with the box itself.


  I had planned to include Richard Russell in this missive as I have noticed his "tone" change this year, and particularly the second half.  As he has in the past, he has again flip flopped this week and believes we may still have a year or more of equity reflation.  Until two years ago I thought he tiptoed a little bit too much and really tried to stay out of the manipulation debate.  Little by little as moves in gold and silver could only be explained by jamming volume during off hours and other tricks, Russell finally came around and called BS on all markets as manipulated.  Not just markets but financial and economic reports, "bravo old man!".  It's just been in this year's second half where he his gloomy outlook has included the talk of "systemic collapse" and also included talk about the world going back to gold standard (again, bravo!).  Now, his systemic collapse is postponed in his mind but still at the center of the table.


  While Richard Russell over the years has been able to speak his mind as an independent, this wasn't as true for Bill Gross.  He primarily managed bond portfolios and more or less had to "talk his book", this has really changed recently as he moved from PIMCO to Janus funds.  Gross wrote in his Dec. newsletter some very interesting and I might add very painful truths of the financial world.  If you notice, the following paragraph was underlined by him as important:


  How could they? How could policymakers have allowed so much debt to be created in the first place, and then failed to regulate their own system accordingly? How could they have thought that money printing and debt creation could create wealth instead of just more and more debt? How could fiscal authorities have stood by and attempted to balance budgets as opposed to borrowing cheaply and investing the proceeds in infrastructure and innovation? It has been a nursery rhyme experience for sure, but more than likely without a fairytale ending.


  The basic premise to this newsletter is that a debt problem cannot be cured with more debt, (does this sound familiar to you?).  He seems to be back pedaling from what he wrote a few years back where he believed this scheme could actually be pulled off with three caveats:


  "But each of these central bankers is trying to achieve the same basic objective: Solve a debt crisis by creating more debt. Can it be done? A few years ago, I wrote that this uncommonsensical feat could be accomplished, but with a number of caveats: 1) Initial conditions must not be onerous; 2) Both monetary and fiscal policies must be coordinated and lead to acceptable structural growth rates; and 3) Private investors must continue to participate in the capital market charade that such policies produced."


  For me, the cherry picked gem from this letter was without a doubt when Mr. Gross wrote... "Keeping private investors playing the “game” in our financial markets even though they smack of a pyramid scheme might seem like a no-brainer".  And there you have it, "our markets smack of a pyramid scheme"!  Again, where have you read or heard this before?   He makes mention how investors will leave the negative interest rates of Germany in favor of 12% rates in Brazil, I would ask if Brazil is any less of a Ponzi scheme than anywhere else in the world?  Without a doubt, I am sure Bill Gross knows this but he does work for a mutual fund company which has a basic need for capital to stay "within the box".  By the time the words gold or silver come out of his mouth, you will know game over has arrived.


  I wanted to mention Bill Gross to you for several reasons.  First, he is at the absolute pinnacles of the finance profession and the core of the system ...debt.   No one has managed more money nor been closer to the debt market internals than he has.  I believe he sees the game coming to a head and wants to be "on the record" before it ends.  Please understand what this man is saying about "HIS" industry, he used the word "pyramid scheme" within his thought process ...the only worse word he could have used (which coincidentally starts with a P) is the word "Ponzi"!  How anyone could read his thoughts and still stay "inside this financial box" is beyond me?


  Switching gears entirely, I want to briefly ask a few questions as usual.  The Treasury Department yesterday put out a bid request for "survival fanny packs" for their bank examiner employees.  What in the world do they need these for... in case they get stuck in an elevator somewhere?  Of course we already knew of the firearms purchased for the various government agencies along with ammo.  At first it was just 1 billion rounds but that was moved up to nearly 2 billion case the first billion wasn't enough or didn't work? 


  We also found out yesterday that Russia, who had previously scheduled testing of their own "SWIFT" system for May, next year ...will now test the system Dec. 15th!   Why did they move this up 5 months?  Did they also see 100 NATO (U.S.) tanks rolling across Latvia as we did yesterday?  Do they see something "we the sheeple" don't?  Or do they see something only the tin foil hat society could possibly dream up?



Bill Holter

BILL HOLTER, Associate Writer, Miles Franklin Precious Metal Specialists

Address: 801 Twelve Oaks Center Drive, Suite #834, Wayzata, MN 55391;

Telephone: 800.822.8080, 952.929.7006; Fax: 952.476.7971

E-mail:; Website:

Prior to joining Miles Franklin in 2012, Bill Holter Worked as a retail stockbroker for 23 years, including 12 as a branch manager at A.G. Edwards.  Later, he left Wall Street to avoid potential liabilities related to management of paper assets.  In 2006 he retired and 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 2007-2012.

| Digg This Article
 -- Published: Thursday, 11 December 2014 | E-Mail  | Print  | Source:

comments powered by Disqus


Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to >> Story

E-mail Page  | Print  | Disclaimer 

© 1995 - 2019 Supports

©, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer


The views contained here may not represent the views of, Gold Seek LLC, its affiliates or advertisers., Gold Seek LLC makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of, Gold Seek LLC, is strictly prohibited. In no event shall, Gold Seek LLC or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.