Greyerz:  “If I look around the world we see that freedom and democracy are disappearing fast in most countries.  If you add to that a world financial system which is rotten at its core, and therefore unlikely to survive in its present form, it means that life will look very different for most people in coming years....

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“The current generation can never repay the astronomical debts that have been built up in the last 100 years.  There was a time when the world grew in real terms due to hard work and investment in people and in resources.

Today, growth, if any, only comes from printed money which means it isn’t real growth.  And as growth not only comes to a halt, but goes negative, which by the way is the case for many countries already, then the world economy will decline at a much faster rate, putting massive pressure on the financial system.

This is when we will see real money printing.  The $85 billion printed monthly by the Fed will be pocket money compared to what we will see.  It won’t just be one trillion dollars per year, it will be tens of trillions and eventually hundreds of trillions of dollars.

We can just look at Argentina as an example of how things will evolve:  Deficits leading to massive money printing, to problems in the financial system, to collapsing exchange rates, and eventually to exchange controls and protectionism.  That will cause hyperinflation (here in the West) and there will be massive suffering.

Eric, I think we are very near a turning point in both gold and silver.  Of course the PPI that came out today had a quick effect because the PPI was a lot higher than expected at .5% for May, against .1% expected.  Silver moved (higher) very fast (as a result of the PPI number), and the gold/silver ratio came down over 1%.  This means that we are near the turn, and when it turns silver will move a lot faster.  So that’s the short-term action, but I think the issues are much bigger than that.

Eric, the KWN listeners have something to protect, but if they haven’t done it already, they must act now.  Physical gold stored outside of the banking system is by far the best protection.  I implore investors to take action now.  Any assets within the financial system are at risk in whatever country the assets are held.”

This is only a small portion of what Greyerz had to say in his extraordinary audio interview.  The KWN audio interview with Egon von Greyerz is available now and you can listen to it by CLICKING HERE. 

© 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 Egon von Greyerz, Gerald Celente, James Turk, John Embry, Dr. Philippa Malmgren, Bill Fleckenstein, Eric Sprott, Stephen Leeb, Rick Rule, Jim Grant and Art Cashin are available now.  Also, be sure to hear the other recent KWN interviews which include Marc Faber and Felix Zulauf by CLICKING HERE.

Eric King

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© 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.

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