Today the man who has become legendary for his predictions on QE and historic moves in currencies and metals warned investors to get prepared because the world monetary system is about to collapse.
BROKEN WORLD ECONOMY CANNOT ESCAPE SCYLLA & CHARYBDIS
July 5 (King World News) – Egon von Greyerz: As the world economy desperately tries to navigate to a safe harbour, is it going be pulled down by the six-headed monster Scylla or the Charybdis whirlpool (Homer’s Odyssey). It seems likely that Scylla is now starting to swallow parts the world before Charybdis will finish it off…
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A world severely weakened by debt and mismanagement is unlikely to have the strength of Odysseus to pass both obstacles without disastrous consequences.
HISTORICAL WEALTH DESTRUCTION ABOUT TO START
- The global monetary system is about to collapse and with that the world economy
- After 50 years of mismanagement and excesses, the world is now in intensive care
- Trillions of printed dollars created illusion of all being well on the Western Front
- MMT – Modern Monetary Theory supports the ludicrous printing actions
- But MMT is Money Making Tomfoolery
- Tens of millions are furloughed or lost their jobs – no problem just print more
- Your company is going bust – print some more
- Leisure industry is collapsing – just print more
- Government deficit surging – no problem, print unlimited amounts
- 2006-9 was the rehearsal with the grand spectacle starting now
- With the Dow up 5x and Nasdaq 10x since 2009, why worry
- Because debts have doubled since 2006 to $275 trillion with risk up exponentially
- World had another warning in Sep 2019 with panic printing by central banks
- Who cares about warnings – stocks can only go up
- Of course nobody took warning seriously as stocks went to new highs in Feb 2020
- Stocks are just reacting to money printing as fundamentals are deteriorating
- And tech stocks are still in euphoria just like 1999. We all know what happened then
- Here is the crux – Stocks topped in Feb 2020 & the correction up finished on June 8
- Our proprietary cycles confirm that June 8 is the market correction high
- Illusion of a V recovery will be crushed
- Market crash is imminent. It could start slowly but it could also be violent
- The catalyst is irrelevant. It could be anything like CV-19 or a bank failure
- The next leg down in stocks will shock a world which is totally unprepared
- Dow has lost 67% against gold since 1999
- Further fall in stocks of 95% in real terms (vs gold) is guaranteed
- Dollar has lost 85% against gold since 2000
- US dollar and all currencies will race down to intrinsic value of ZERO
- Big shock will be collapse of debt markets and skyrocketing rates
- Get ready for a summer-autumn of horrors and discontent
DON’T MISS THE LAST TRAIN TO GOLDVILLE
- Gold and silver will continue to reflect the destruction of paper money
- Gold will quickly reach $2,000+ and silver $23-25
- Major gold & silver shortages coming
- Medium/long term targets higher than anyone can imagine: $10k – $50k?
- Protect yourself against bankrupt financial system & failed currency system
- Hold physical gold as life saving insurance
- Gold and silver is for everyone not just the wealthy
- You can buy one gramme of gold for $60 or one tonne for $57 million
- One ounce of silver is $20 and a tonne is $580k
- Store it safely outside a failing banking system
- For bigger investors hold the metals outside your country of residence
We have had all the warnings
Don’t let Charybdis pull you down.
It would be irresponsible not to take immediate
action to protect your family and your assets.
For those who would like to read more of Egon von Greyerz’s fantastic articles CLICK HERE.
***To listen to one of the most important interview of 2020 click here or on the image below.
One Of The Most Important Interviews Of 2020
***Also Released: ONE OF THE MOST IMPORTANT INTERVIEWS OF 2020: Michael Oliver – The Stock Market Collapse Will Be Epic And Gold Will Skyrocket CLICK HERE.
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