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Eric King:  “Egon, you made the fantastic call last Fed Meeting that we would see no tapering and that would shock the world.  You also said gold would soar that day and that’s exactly what took place.  What are you looking for this time?”....


Continue reading the Egon von Greyerz interview below...




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Greyerz:  “Eric, there will be no tapering.  It’s impossible.  They can’t taper because the situation in the US is still very desperate.  Today, for example, we had the news from Zions Bankcorp, which is in Utah, that if they have to follow the Volcker Rule and value their debt at market value, not at maturity value, the bank will have serious balance sheet problems.


This is what I’ve been saying all along, if banks had to value their toxic debt at market value, the banking system would not survive.  The Fed and the rest of the central banks know this.  That means they will absolutely not stop tapering because the banking system would not stand.  It would not survive either in the US or in Europe.  This is why the Fed decision will definitely be no tapering.


The troubling point here is the central planners will want to push gold down to the US dollar lows because gold in all of the other currencies has already made lower lows than what we saw in late June.  I’m not sure they will succeed in pushing gold to new lows, but it is irrelevant because whether the rally starts at Christmas or the beginning of 2014, next year will be the most spectacular market for gold and silver because of what’s going to happen in the world economy. 


As we see the fall in the world economy in 2014, that will lead to massive money printing and QE from all of the central banks next year.  Gold and silver will be the major beneficiaries of this money printing and QE.  So 2014 will be a huge year for both the metals and the mining shares.”


IMPORTANT - KWN has more interviews being released today and all weekend.


© 2013 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 This material may not be published, broadcast, rewritten, or redistributed.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 audio interviews with Rick Rule, Gerald Celente, Dr. Marc Faber, Bill Fleckenstein, Eric Sprott, Grant Williams, Egon von Greyerz, Dr. Paul Craig Roberts, William Kaye, Andrew Maguire, David Stockman and Art Cashin are available now. Other recent KWN interviews include Jim Grant and Felix Zulauf -- to listen CLICK HERE.


Eric King

KingWorldNews.com

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