Eric King:  “Egon, when you look around the world at the chaos that’s taking place in emerging markets, can you talk about how you expect this to spread and what the result of that will be?”

Greyerz:  “Well, this is so serious, Eric, because you are not talking about one market --  you are talking about virtually all emerging market countries.  And of course they have debts that they can never repay.  The world is now worrying that there will be even less liquidity around because the US is now cutting down on the money printing....

Continue reading the Egon von Greyerz interview below...


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“Of course we know that the printing of money will not solve the problems of debt, whether it’s emerging market debt or other countries debt.  Nothing goes (down) in a straight line, but the emerging market problems will accelerate and it will spread to the very overbought and the very overvalued stock markets and economies in the West.

So stock markets are now starting a secular bear trend which will last for many years, and we could see falls of massive proportions.  At the end of this, the wealth that has been created in the last few decades will be destroyed.”

Eric King:  “Is this chaos going to engulf the world?”

Greyerz:  “Yes it will engulf the world because there is no safe area in the world.  There is no country that can stand outside of this (chaos) because the whole system is so fragile.  There are massive debts, deficits, and overvaluation everywhere.  There are also political problems in many countries.

Unemployment -- which is a disaster for the world -- in Europe you are talking about youth unemployment of 50% to 70% in some countries, that is spreading to other countries also.  So the combination of the economic situation for the world and the fact that a lot of people will not have any jobs and therefore will not have any food, that’s going to be extremely serious for the whole world.”

UPDATE: Greyerz’ remarkable audio interview is available now and you can listen to it by CLICKING HERE.

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The audio interviews with Egon von Greyerz, Dr. Paul Craig Roberts, Nigel Farage, James Dines, Gerald Celente, Michael Pento, Eric Sprott, Andrew Maguire, Rob Arnott, William Kaye, David Stockman, Art Cashin and Dr. Marc Faber are available now. Other recent KWN interviews include Jim Grant and Felix Zulauf -- to listen CLICK HERE.

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