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Greyerz:  “Eric, markets are behaving exactly as one would expect at the end of a major economic era.  That is, markets are totally divorced from the reality of what is going on both economically and geopolitically.  Markets are now in a manic phase, driven by false hope and momentum....


Continue reading the Egon von Greyerz interview below...




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“It clearly helps that many economic figures are manipulated and therefore totally inaccurate.  If we add to this the most massive money creation in history, we can be certain that these are not normal times.


We are experiencing the beginning of a hyperinflationary period, with hyperinflation, so far, being noticed only in financial markets, property markets, and other key assets such as art and classic cars.  Regarding a property bubble, I just saw that in Monaco they are now erecting a structure where the penthouse apartment will cost a staggering 300 million euros.  That is, of course, a record.


And currencies will continue their decline to zero.  Continued money printing will guarantee this.  And we have to remember that the major currencies don’t have far to go since they are down between 97 and 99 percent in the last hundred years.  As currencies start the next major phase of decline we will experience hyperinflation in all parts of the economy.  This hyperinflation will be happening in most major countries.


Some people may view the message coming from the experts on King World News as doomsday.  You have some of the most perceptive freethinkers in the financial world being interviewed regularly on KWN.  I know many of them personally, and I can ensure KWN readers that these people are the most bright and level-headed individuals who are warning about the systemic risks.


Like myself, they are not pessimistic and they don’t wish for chaos, but we can clearly see enormous risks the world is now facing.  The fact that these individuals are revealing these unprecedented risks, as a whistleblower exposes corruption, does not make them prophets of doom.


One thing is certain:  If you think the risk of a fire is high, you buy fire insurance because you definitely can’t buy it after the fire.  We have discussed many times the major risks the world is facing, but for new followers of KWN it’s worth mentioning the main concerns.


Many major nations are bankrupt since they can never repay their debt with normal money.  This includes Japan, the U.S., U.K., and most EU countries.  Then we have the financial system, which is more vulnerable today than it was in 2008 and 2009 because of the explosion of debt and derivatives.  Plus we have the banks valuing their assets based on pure fantasy, not at market value.


And finally we have the geopolitical situation, which has never been as serious as this for many decades.  It’s against these extremely serious risks that people need to buy insurance to protect their wealth.  And of course the best insurance is physical gold and silver outside the banking system.


Individuals always stand a better chance of enhancing their wealth when they buy assets which are undervalued and unloved.  The stock market is overvalued and overloved.  Some time in the next few months stock market investors will get the shock of a lifetime as the market begins a vicious secular bear market.  This bear market will last for a long time.


And of course investors will buy every dip in stocks, believing that the market is cheap.  But eventually they will capitulate when they have lost 75 to 85 percent of their money in real terms.  Remember that in 1929 to 1932 the stock market went down by more than 90 percent and took 25 years to recover.


Gold was temporarily overvalued and overloved in 2011 after a fast run-up, even though it was in the middle of a secular bull market.  We have witnessed a three-year correction and gold is now poised for the next move up.  How do we know the bull market in gold is not finished?  Since the 2011 top at $1,920 governments worldwide continue to run major deficits.  


These governments have also printed many trillions of dollars since 2011, in addition to a massive increase in world debt.  And remember that all gold does is to reflect the destruction of paper money.  With the tens of trillions of dollars created since the gold peak in 2011, the gold price will soon start to reflect this.


So gold is now both undervalued and unloved and will therefore not just serve as insurance in coming years, but it’s also likely to appreciate in price more than any of us can imagine.”


© 2014 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.


IMPORTANT - KWN has many more interviews being released today.


The audio interviews with Dr. Philipa Malmgren, Gerald Celente, James Dines, Michael Belkin, Dr. Paul Craig Roberts, Andrew Maguire, Art Cashin, Michael Pento, MEP Nigel Farage, David Stockman, and Marc Faber 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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