There is going to be a reset of this unpayable debt, and financial writer and precious metals expert Bill Holter contends, “It’s going to happen, and I hope for not a very long period of time. I am hoping it’s just a two week or four week event where the system goes down and goes back up. If I am wrong, then you are looking at a Mad Max world. . . .
Basically, nothing works. Your electricity doesn’t work. Your car may or may not work. We may have an EMP or it will work until you run out of gas. When credit breaks down, then distribution breaks down. If credit doesn’t come back up, then distribution is gone. That means every Walmart, every grocery store is empty.Basically, you are on your own.”
In closing, Holter warns, “The balloon has already been popped. The pin has popped the bubble, and now we are just going to work its way out. The workout, by the way, is going to be a complete and utter financial collapse. It is a house of cards, and it is all going to end up flat.”