Today one of the legends in the business and 28-year Barron’s Roundtable panelist, Felix Zulauf, told with King World News that the new normal is a permanent crisis. He also warned that banks will be nationalized and government theft is starting.
Felix Zulauf: “The new normal is a permanent crisis because so far we have not solved any problems since the Great Financial Crisis. And as the world economy slows down further, and it’s beginning to grind down to very low growth rates and stagnation, the systemic risks are going up and that’s why it’s a good idea to have a solid position in the gold market.
Banks To Be Nationalized
I always joke that Deutsche Bank has the right name because it will eventually be owned by the German public. I think several banks could eventually be nationalized because otherwise they will not survive, or the risk of not surviving and taking down the system is too big…
Continue reading the Felix Zulauf interview below…
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Today Credit Suisse hit a 25 year low. So (Credit Suisse broke) below the 2012 low and below the 2009 low. They are talking about big layoffs again. This is a structural crisis.
Banks Have Already Eliminated A Staggering 600,000 Jobs
In the 1970s, I remember as a young man the problem industry at that time was machinery in Switzerland. And we lost 1/3 of all the job in the machinery industry — the biggest employer in Switzerland in the 1970s — because at that time the Swiss franc went through the roof. Today’s problem industry in the world is banking. The banking industry, since the Great Financial Crisis, has eliminated 600,000 jobs, and it’s not over yet.”
Eric King: “In that environment, Felix, what about Western government theft — how they are going to try to steal wealth from citizens? What are you telling clients in order for them to avoid that confiscation?”
Zulauf Warns Government Theft Is Starting
Felix Zulauf: “Well, you know it (the government theft) is starting. We are in the midst of a financial repression. Our generation, we have had the compounding of interest rates and we could build fortunes over time as savers. Today’s generation gets confiscated. Negative interest rates is compounding confiscation by the government.
It’s just a totally different world. And if they continue, they destroy the opportunity to save for the future. And as they destroy that, they destroy the future of the people. And they destroy the…To continue listening to Felix Zulauf’s remarkable audio interview, where he tells listeners exactly how they can avoid wealth confiscation as well as how the global collapse will unfold, and much more, it has now been released and you can access it by CLICKING HERE OR ON THE IMAGE BELOW.
***ALSO JUST RELEASED: Today’s Felix Zulauf Interview And Signs That A New Gold Rush Is Now Taking Place CLICK HERE.
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