In this Interview with Greg Hunter, Egon von Greyerz says the signs abound that we are nearing the end of this global fiat money experiment.
Asked about the health of the global financial system EvG replied: “The central banks are panicking. They don’t know what to do anymore. Europe is starting QE again with $20 billion a month, but that’s nothing compared to what is coming… This is simply a ‘practice round'”.
Beside this outlook:
- The steps towards a total chaos in the world, to be seen in the months and years ahead
- Central bankers know the system is on the verge of collapse with Deutsche Bank and Commerz Bank down 95%
- Deutsche Bank’s $50 trillion derivatives black hole, affecting the whole banking system worldwide with no chance of survival
- In Europe on the precipice: Italy, Spain, France and Greece and in the U.S the daily accelerating liquidity pressure
- Implosion ahead of all asset bubbles. Measured in gold, stocks and property markets about to lose at least 95%
- The next major move of gold has just started and it is going to go ballistic, to levels that will be hard to believe today
- The world cannot have solid growth until this debt has imploded
- But the debt can only be wiped out by wiping out all of the asset values. There are no other solutions to the mess the world is currently in