KING WORLD NEWS - BLOG
BROADCAST../../../../Broadcast/Broadcast.html../../../../Broadcast/Broadcast.htmlshapeimage_6_link_0
HOME../../../../King_World_News.html../../../../King_World_News.htmlshapeimage_13_link_0
BUSINESS../../../../Business.html../../../../Business.htmlshapeimage_14_link_0
GREEN../../../../Green.html../../../../Green.htmlshapeimage_15_link_0
HEALTH../../../../Health_1.html../../../../Health_1.htmlshapeimage_16_link_0
ENERGY../../../../Energy.html../../../../Energy.htmlshapeimage_17_link_0
SPORTS../../../../Sports.html../../../../Sports.htmlshapeimage_18_link_0
GOLD+../../../../Gold.html../../../../Gold.htmlshapeimage_21_link_0
 

Egon von Greyerz continues:  


“We’re seeing every week, one domino after the next that is falling.  So far they are only smaller dominos such as banks, smaller countries, etc..  No (major) country has fallen, but that will come.  Every single economic figure is looking worse.  World trade is declining -- Chinese exports of steel were down 14% last month, US exports to the eurozone were down 5% last month and that is likely to increase to minus 20% if not more. 


The decline of world trade means the start of a depression....


Continue reading the Egon von Greyerz interview below...




Advertisement


To hear which company has one of the highest grade gold deposits

in the entire world, as well as a number of other

extraordinary projects click on the logo:






“We also saw six German banks downgraded, we saw manufacturing figures in almost every country coming down, as well as production.  So the dominos are falling and, sadly, we are seeing a historic and dark period for the world.


Bernanke, don’t believe a word of what he is saying.  He’s a politician, like everybody else, and he used this speech to put pressure on Congress to reduce the deficit, but of course they won’t.  So the burden will be back on Bernanke to print more money.  That (money printing) is imminent.


Ben (Bernanke) talked about the eurozone.  He said he’s prepared to take action if needed.  Well, I can tell him that action is needed now.  That action we will see very soon.  There will be a worldwide package.  There will be a massive worldwide package coming out between the Fed, the ECB, the IMF and other central banks.”


Greyerz had this to say about the action in gold: “We saw no selling of physical gold, it was all manipulation in the paper market.  There is no selling in the physical market.  It’s very important to understand that there is manipulation of the paper market to a massive extent.  At some point people will not trust the paper market anymore.


There is only one direction for markets.  The stock market will continue down against gold, the currencies will collapse at a faster rate against gold, and gold will continue its long-term trend (higher) that we have seen over the last 12 years.


This is a chart I’ve produced for the written (portion of this interview).  You see the peak from August and early September of last year, and then a nine month consolidation.  It’s a triangle and the moves are getting smaller.




The support is around $1,560 on a weekly closing basis, and the resistance is $1,700.  We might hit $1,560 on a weekly closing basis or even go below it, but in my view the next move is up.


Wealth preservation (right now) is buying physical gold and storing it outside of the banking system.  That is the only way you can preserve your wealth in a scenario in which, sadly, there is no solution to what we are going to see in the next two years.  (This situation is) very, very sad, but that is the case.”


Because of the chaos in the markets, the KWN interview with Egon von Greyerz is available now and you can listen to it by CLICKING HERE.  The above was small portion of what Greyerz had to say.  He also discussed what is happening behind the scenes, what investors should expect going forward and much more. 


© 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 MEP Nigel Farage and Michael Pento are available now.  Also, be sure to listen to this week’s line-up of other KWN interviews which include Dr. Stephen Leeb, Don Coxe ($538 billion BMO), Art Cashin ($612 billion UBS), Rob Arnott (oversees $100 billion), Newmont CEO Richard O’Brien, John Hathaway and James Turk by CLICKING HERE.


Eric King

KingWorldNews.com

To return to BLOG click here.

 
 
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/KWN_DailyWeb.html
KWN BLOGhttp://kingworldnews.com/kingworldnews/KWN_DailyWeb/KWN_DailyWeb.htmlhttp://kingworldnews.com/kingworldnews/KWN_DailyWeb/KWN_DailyWeb.htmlhttp://kingworldnews.com/kingworldnews/KWN_DailyWeb/KWN_DailyWeb.htmlshapeimage_24_link_0shapeimage_24_link_1

© 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.

Subscribe to RSS
CLICK HEREhttp://kingworldnews.com/kingworldnews/KWN_DailyWeb/rss.xmlhttp://kingworldnews.com/kingworldnews/KWN_DailyWeb/rss.xmlhttp://kingworldnews.com/kingworldnews/KWN_DailyWeb/rss.xmlshapeimage_27_link_0shapeimage_27_link_1
KWN Blog
Archiveshttp://kingworldnews.com/kingworldnews/KWN_DailyWeb/Archive.htmlhttp://kingworldnews.com/kingworldnews/KWN_DailyWeb/Archive.htmlhttp://kingworldnews.com/kingworldnews/KWN_DailyWeb/Archive.htmlshapeimage_28_link_0shapeimage_28_link_1
http://www.kingworldnews.com/kingworldnews/Broadcast/Broadcast.html