My Blog

Egon von Greyerz continues:

“I wouldn’t be surprised over the next two or three years to see a fall of 10% in GDP in the eurozone, and in other countries also, the UK and US. Just take an example of commercial property in Italy. In the second quarter of this year there were (only) 2 commercial property transactions in Italy. This was against 56 in the previous quarter.

I mean a drop from 56 to 2, it’s just come to a total standstill....

Continue reading the Egon von Greyerz interview below...

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:

“The same in Spain. Spain dropped from 58 (commercial) transactions in Q1, to (only) 3 transactions in Q2. The market has just come to a total halt. The consequences of that is you will have a lot of loans that will never, and can never be repaid.

This means there will be default. The only remedy to this is money printing, that is what governments will have to do. There has to be more QE, it’s imminent. It’s going to be on a big scale because it’s required worldwide. As I have said, It’s going to be coordinated between the Fed, ECB and other central banks.

I’ve been saying, and this will be very soon, once the focus shifts to the US, that will put pressure on the dollar. US bonds are already starting to indicate this by coming down, and I think we will have the most massive fall in the bond market and rise in interest rates over the next few years.

All of this will also have a major effect on the dollar, which will fall, and therefore on gold. So it’s all coming together now and I think we are going to see an autumn with a lot of action in all of these markets.”

Greyerz issued added: “I think the paper shorts in gold and silver are going to have real problems. The short covering during the next few weeks and during this autumn is going to be massive. The mining stocks are just going to explode once this (market) turns because they are at ridiculously low levels.

I think investors should prepare themselves for a tumultuous autumn, and they should take the measures they need to in order to preserve their wealth. This is going to be the start of a very long period of deterioration of the economy, and the destruction of paper money. So investors should hold on (for the ride).”

This was a tremendous interview with Greyerz. He discussed a coming short squeeze in gold and silver, what to expect from central planners, how markets will react and how investors should position themselves. The interview with Egon von Greyerz is available now and you can listen to it by CLICKING HERE.

The interviews with Bill Fleckenstein, Keith Barron, MEP Nigel Farage, Peter Schiff, John Embry and James Turk are available now. Also, be sure to listen to last week’s line-up of other KWN interviews which included Micheal Pento, Dr. Stephen Leeb, John Hathaway and Art Cashin ($612 billion UBS) by CLICKING HERE.

Eric King

KingWorldNews.com

To return to BLOG click here.

Greyerz - Expect Massive Short Covering In Gold Within Weeks

Today Egon von Greyerz told King World News, “... the paper shorts in gold and silver are going to have real problems.” Greyerz, who is founder and managing partner at Matterhorn Asset Management out of Switzerland, also said, “The short covering during the next few weeks and during this autumn is going to be massive.”

Here is what Greyerz had to say: “The real underlying figures (for the global economy) are still deteriorating. Just look at what’s happening in Europe now. A few days ago the eurozone GDP came out and it was down .2% for the quarter, and for the last twelve months it was down .4%. So Europe is suffering. But that’s just the beginning in my view.”

rewritten, or redistributed. However, linking directly to the blog page is permitted and encouraged.

August 16, 2012

next >

< previous

KWN Disclaimer: