As the world edges closer to the next crisis, today the man who has become legendary for his predictions on QE and historic moves in currencies warned King World News that we are now in the early stages of a global depression.
It’s A Scary Time For People
May 21 (King World News) – Eric King: “Egon, there is so much to talk about because so many of your predictions have been coming true, and it’s a scary time for people. You’ve said for quite some time that we could head into hyperinflation. You said down the road the US is going to be printing quadrillions of dollars and tens of quadrillions of dollars. We seem to be heading there now even though there is this fake QT going on in the short term. The US economy, and I have this from boots on the ground, has been imploding and it’s been imploding for a short period of time across all sectors. It’s not doing well. That’s propaganda. It’s actually doing quite poorly across the board and it’s deteriorating quickly.
So the US is in a recession. The mainstream media talks about how there’s the possibility of a recession. I don’t know where they come up with this stuff. We’re in a recession. How much worse it will get? I don’t know but it will probably be very serious because we’ve had this “everything bubble.” It’s popped. And now we are dealing with the hangover in front of us from that. As you know, this collapse in the markets will eventually be greeted by the Fed coming in to print more money, which you have always said would happen — that they will try to rescue it — and that will create even more inflation nightmares for people and they are already dealing with these nightmares real-time.”
20%-30% Inflation And A Global Depression
Egon von Greyerz: You are absolutely right. These were my thoughts also before we started this interview that we are looking at a picture of the world which looks incredibly pessimistic or even dangerous. You are right that inflation is here. And we are not 7, 8 or 10% inflation, we are already at 20% or 30% inflation in areas. And especially the areas that touch people. We are taking about food prices which are up 20-25% or more. And we’re talking about energy. I just filled up my tank and it’s 60% higher than six months ago. Ordinary people can’t afford that so for them we are not just in a recession, we are already in a depression. They can’t afford the cost of living that they are facing. So we are now entering a period of massive human suffering…to continue listening to the man who has become legendary for his predictions on QE and historic moves in currencies discuss the incredibly dangerous scenario the world faces as well as what to expect from major markets including gold CLICK HERE OR ON THE IMAGE BELOW.
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