Bill Holter: U.S. is Broke; Crash is Mathematical Certainty

Posted 2 Sept 2014
Bill Holter of MilesFranklin.com says a crash of the financial system is on the way.
Holter says, “I believe that many things that are real will be revalued many multiples higher.
Silver and gold I see being revalued eight to ten times higher or more if we have a closure of the banking system and the stock market, a reset so to speak . . .

How likely is a crash in the financial system?

Holter thinks, “From a probability standpoint, whether it’s tomorrow morning or next week, or next month, or next year, mathematically, ask yourself this question: Is the U.S. broke?
The answer is yes, the U.S. is broke.
There is no way the U.S. can pay the promises, the interest and etcetera on everything that is out there.
I’ve seen a number of $240 trillion in total promises and debt. There is no way that can be paid. So, from a mathematical standpoint, sooner or later, there is going to be an all-out collapse.
That is a mathematical equation.
It is no longer if, it is only a question of when.”
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https://ronmamita.wordpress.com/2014/01/14/see-the-effects-of-the-global-financial-crisis/
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