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 and metals told with King World News this will cause the big collapse in coming years.
This Will Cause The Big Collapse In Coming Years
December 21 (King World News) – Egon von Greyerz: “The enormous debt of $260 trillion worldwide is now reaching levels where, at some point, bond markets will collapse of their own weight. This means that rates are going to go a lot higher. So it’s the bond market that will cause the big financial and economic collapse we will see in the world in coming years.”
Eric King: “Egon, were you surprised to see the Fed initiate QE4 with the stock market near all-time highs? Everybody had expected a big correction — a semi-collapse into a bear market — and then the initiation of QE4. But yet it came with stocks at or near all-time highs.”
Egon von Greyerz: “In one way I had been expecting it, but I think that conventional wisdom says that this is crazy. The economy seems to be booming, the stock market is booming, the property market is booming, and bond markets are near all-time highs in most countries. Why then do we need to see QE or money printing? It’s central banks trying to keep the financial system alive.
That’s what it’s all about and I wasn’t surprised because I know that the financial system is absolutely sick and I know that there are enormous pressures not just with Deutsche Bank, Commerzbank, Italian banks, French banks, but I would expect that the same is happening with the US banks, with the JP Morgan’s of this world, with the Citibanks, the Morgan Stanley’s — the same banks almost went under in 2007-2008…To continue listening to Egon von Greyerz’s powerful KWN audio interview CLICK HERE OR ON THE IMAGE BELOW.
Expect Financial Violence Over The Year End
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