With continued uncertainty around the globe, today the man who has become legendary for his predictions on QE, historic moves in currencies, told King World News that this danger signal has increased 167-times.
Egon von Greyerz: “Back in 1950, total U.S. debt was $400 billion. Today total U.S. debt is $67 trillion. That’s up 167-times since 1950. GDP was $290 billion in 1950 and now it’s $17 trillion. So GDP is up around 58-times. That means U.S. debt has gone up 3-times as fast as GDP. This U.S. economy, like the world economy, is not growing in real terms. All that’s happening is more and more money is being printed, and more and more debt is being extended. That’s what has created this false economy and false prosperity in the world. So then you may ask, ‘It’s gone on for a very long time, so why can’t it continue?’ Of course…KWN has now released the powerful audio interview with Egon von Greyerz and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
***ALSO JUST RELEASED: WARNING For Silver Longs, But Gold Is A Different Story… CLICK HERE.
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