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Egon von Greyerz continues:  


“So hourly earnings in the US are just collapsing.  We see (government reports of) unemployment figures going down, which is ridiculous.  Of course they are not going down.  The government is showing the figures they want, of 8%, when the actual unemployment is 23%.


But people are continuously worse off in the US....


Continue reading the Egon von Greyerz interview below...




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“Household debt is surging in the US, and savings are collapsing.  So everybody is worse off.  Sadly this will lead to economic misery, and much more money printing.  What people must focus on is what is happening with central banks balance sheets?  What is happening with borrowing?


This chart shows the balance sheet of the Fed and the balance sheet of all of the central banks in the world compared to the gold price.  And it’s absolutely inevitable that they will, and they must, continue to expand because without that we will have a total collapse of the financial system.






Bernanke knows that and all of the central bank leaders know that.  So that will continue and as we see in this chart, borrowings will continue, balance sheets will expand and the gold price will just continue to reflect that. This is without the market reacting to the fact that there probably isn’t anywhere near the central bank gold (governments claim they possess).


I also have a chart on the US public debt to gold price (starting) from 1900.  You see on that chart how from the late 1900s that gold and the US public debt has started to go exponential (see chart below).






Now we are actually getting into the parabolic phase of the move, which is straight up.  Central banks will have to print unlimited amounts of money.  So what I am saying for investors is don’t worry about short-term corrections because you know it’s absolutely certain that debts will go up, and gold will continue to reflect that.”


This is a tremendous audio interview with Egon von Greyerz.  The above information was just a small portion of his incredible interview.  Greyerz covers current trading activity in the precious metals and what to expect next and much more.  The King World News interview with Egon von Greyerz is available now and you can listen to it by CLICKING HERE.


© 2012 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.  However, linking directly to the blog page is permitted and encouraged.


The interviews with Egon von Greyerz, Gerald Celente, MEP Nigel Farage, Dr. Stephen Leeb and Rick Rule are available now.  Also, be sure to listen to other recent KWN interviews which included, James Turk, Jean-Marie Eveillard, Bill Fleckenstein, Art Cashin (UBS $612 billion) and Jeffrey Saut (R.J. $360 billion) by CLICKING HERE.


Eric King

KingWorldNews.com

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