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By Bill Holter
In an effort to put the Martin Armstrong saga to bed, I post below
quotes and links to two articles he put out in 2010 and 2011 just before
being released from prison. Please read not just the quotes provided
but his full articles as they are both excellent in content and logic.
His 2010 article sounds a lot like "Bill Holter" as I have done
this math and logic several times for readers over the years. Back then
he said "$5,000 gold is "VERY CONSERVATIVE" ...while he now
says it will be as high as gold can go. In the second article he takes
on "manipulation" which he has since changed his tune on.
I would simply ask "why"? Why has he done a 180
degree turn in his thought process? Why did his "change" of
heart begin as soon as he was released from prison? Why do people even
follow him now as his logic and reporting of history is flawed? I have
no doubt he is a brilliant man as he was a pioneer of the derivatives industry,
but how brilliant is it to claim that gold was devalued in 1934 ...and then
go on to explain "why" it happened?
"I have been conservative in what is possible for the years
ahead. I have given a number for gold of $5,000 that is VERY
CONSERVATIVE. If we take the US gold reserve 262 million ounces and we
divide that into the national debt of $14 trillion ignoring the rest of
the world, that yields a price of a staggering amount $53,639 per
ounce. Even taking the world official gold reserves dividing that into
$14 trillion ignoring the rest of the world, we still end up with $15,873 per
ounce." ...Martin Armstrong, Nov. 21st 2010
http://s3.amazonaws.com/armstrongeconomics-wp...-11-21-2010.pdf
"The sharp spike rally was in line with a Phase Transition in
Silver – NOT gold. This has been distinguished by a virtual doubling in price
since January. Anytime a market doubles like this in the last few months
going into a high, it is the kiss of death. Silver, of course, has not broken
out above its 1980 high as did gold. This is largely due to the fact that
silver remains the most manipulated precious metal of the entire group. It is
routinely played with by the NY crowd and anybody you says such things is
immediately attacked with venom. Silver is the playground for the CLUB"
...Martin Armstrong, May 2nd 2011
http://s3.amazonaws.com/armstrongeconomics...2015-050611.pdf
It is clear to me with the above writings, Mr. Armstrong had
a full grasp of logic. I would love to hear from him now as to why his
logic was wrong back then...before he saw the light of day as a free man?
Standing watch,
Bill Holter
Holter-Sinclair collaboration
Comments welcome, &nb target="_blank"sp; bholter@hotmail.com
Bill Holter writes and is partnered with Jim Sinclair at the newly
formed Holter/Sinclair collaboration.
Prior, he wrote for Miles Franklin from 2012-15. Bill worked as a retail
stockbroker for 23 years, including 12 as a branch manager at A.G. Edwards.
He left Wall Street in late 2006 to avoid potential liabilities related to
management of paper assets. In retirement he and his family 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-present.
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