Today the man who remarkably predicted the collapse of the euro against the Swiss franc warned King World News that a financial wipeout is coming that will shock the world as governments move to control people.

Egon von Greyerz:  “Eric, for anyone holding funds within the financial system the risk is increasing exponentially.  The danger is now so great that the likelihood of getting money back from the banking system is very low….

Continue reading the Egon von Greyerz interview below…


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“Yes, if you are lucky you might get back Monopoly money, which will eventually be worthless.  If we look at all the risks, Eric, today it’s getting almost impossible to protect your money.  If you look at the Irish airliner, they just had $5 million siphoned out of their bank account to China.  This was obviously done by cybercriminals.

KWN Turk I 4:6:2015

One Billion Dollars Stolen Out Of Bank Accounts

But what happened to the Irish airliner was nothing compared to what happened to the security firm Kapersky detected in February of this year, which is that one billion dollars had been transferred out of various bank accounts by cybercriminals.  That money still has not been found.

But it’s not only criminals who are making cash in banks unsafe.  Until recently cash was a respectable means of payment and showed financial strength.  The Swiss, for example, still use cash and even today you can get a one thousand Swiss franc bill from an ATM.

Governments Moving To Control Their People

But that’s all changing now with governments moving to control their people.  The governments are in the process of making cash illegal, except for very small amounts.  In Italy, for example, you can’t withdraw more than 1,000 euros.  In Spain that number is 2,500 euros.  In France they just reduced that number from 3,000 euros to 1,000 euros.

In Switzerland there is now a proposal to restrict withdrawals of cash to 100,000 Swiss francs.  In Switzerland we recently had a case where a pension fund wanted to withdraw cash to keep it in a safe deposit box because it’s cheaper than paying a negative interest rate with the Swiss National Bank.  The Swiss National Bank told them that they shouldn’t do that.  It’s not illegal but they were told they shouldn’t do it.

King World News -- 50-Year Veteran Warns This Global Crisis Is Incredibly Dangerous And More Western Government Theft Is On The Way

License To Steal

So cash is being restricted in every country and it will only get worse.  In the U.S., for example, police can confiscate money from anyone they suspect shouldn’t have it.  And also in the U.S., banks are now telling customers that they can’t have cash in safe deposit boxes.

Eric, can you see what’s happening?  First, the financial system is bankrupt.  $60 trillion of new credit and money printing has taken place since 2008 and it has had no effect.  But limiting cash withdrawals is a way of stopping the bank runs that governments know  will be coming.

Desperate Move Is Designed To Stop Bank Runs

I could easily see a phased reduction of cash withdrawals down to $100 in the U.S. and 100 euros in Europe.  That will of course stop bank runs, but instead lead to banks and bankers being attacked.  The other benefits of restricting cash is that governments can now totally control people’s spending.  It will also make it easier for governments to access people’s cash in order to do forced transfers into government bonds.  This will be done in a desperate attempt by governments to prop up debt and deficit spending.

KWN Greyerz I 4:30:2015

So George Orwell was right in his 1984 book — ‘Big Brother’ really is watching.  The bottom line is banking secrecy is now gone, even in Switzerland where it has been part of our Constitution.  The U.S. attack against UBS put a stop to that.  The U.S. has subjected every bank in the world to extreme regulations for its citizens.

If foreign banks are not signed up to these extreme regulations, then the U.S. will deduct 30 percent from every U.S. payment in or out.  The next regulation which will come into effect in 2016 will be an exchange of bank account information between countries.  Virtually every country in the world is signed up for this.  What I am objecting to is the fact that there is no privacy anymore and a total disrespect for individual freedom.

King Woirld News Pento 3:14:2015

Final Phase Of Destroying Cash

The final phase of destroying cash or money will of course be unlimited money printing or QE.  This is the only tool the governments have left in their futile attempt to save a debt-infested world.  But printed money can never save the world because printed money can never create wealth.  All it will do is increase debt and exacerbate the problem.  Finally, it will totally destroy the value of money.

King World News - Today the man who remarkably predicted the collapse of the euro against the Swiss franc warned King World News that a financial wipeout is coming that will shock the world.

A Financial Wipeout Is Coming That Will Shock The World

But there are of course other ways of legally protecting yourself from Big Brother.  Most nations allow their citizens to hold bank accounts outside of their country.  But for Americans today it is virtually impossible.  Holding large amounts of cash is no longer advisable.  The best way of protecting wealth is to hold gold, and if possible to hold it outside your country of residence.  It must obviously be held in physical form and be held outside of the banking system.

Gold held outside of your country of residence represents freedom.  Holding gold also insures you against all the enormous problems the world faces.  Today virtually every major sovereign state is bankrupt.  We also have a financial system that will implode.  Eventually the global financial bubbles will burst but investors will not understand what will hit them as the $250 trillion in financial assets begin to evaporate.  This financial wipeout is coming and it will shock the world." ***ALSO JUST RELEASED: This Is How Disastrous The Situation In The West Really Is CLICK HERE.

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The audio interviews with Michael Pento, Gerald Celente, Egon von Greyerz, Dr. Paul Craig Roberts, Andrew Maguire, James Turk, Rick Rule, Bill Fleckenstein, Dr. Philippa Malmgren, Eric Sprott, Robert Arnott, Michael Pento, David Stockman, Marc Faber, Felix Zulauf, John Embry and Rick Santelli are available now. Other recent KWN interviews include Jim Grant — to listen CLICK HERE.

Eric King
KingWorldNews.com

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