Today King World News spoke once again with the man who recently had a fireside chat with billionaire Frank Giustra. On the heels of his recent meeting with Giustra, he spoke about what will be a horrifying shock to the Western world and its people, and why the global economy is headed for total collapse.
Egon von Greyerz: “Eric, I see a perfect storm now brewing. It’s with absolute confidence that I see this, and at the same time, sadness, because I think we will see a world that we haven’t faced for decades or maybe even a century, and it will be a shock to most people….
Continue reading the Egon von Greyerz interview below…
“It will be a shock to the Western world. It will be a shock to emerging countries and the developing world and life will change for a very long time. Right now we’re seeing the total madness that is quite normal before this change that we will have.
Just take the Dow Jones as an example of this madness: The Dow went down 900 points in seven trading days, and in two days it went up 700 points. Why? Because the Fed changed a couple of words in their outlook for the coming year. They now said they could be patient and stock market investors saw that as a sign of buying unlimited amounts of stocks without any regard to what’s happening in the rest of the world.
If you look at the stock market, the people who have money don’t know what to do with it so they are putting it in the stock market. But the real world is not actually making ends meet today or spending (money). I think the oil price is a much better indication of what is happening. The oil price is now down at $55. We’ve been as high as $150. Why is it down? People say that it’s because production is too high.
That’s just part of the answer. The main part is that consumption is too low. The world is now in a recession on its way to a depression and is not buying oil — that’s why the price is down. So this is where the real economy is worldwide, Eric, and that is reflecting what is going to happen to the world both in the West and the East. That’s going to happen in 2015 and (accelerate in) coming years.” KWN has now released the extraordinary Egon von Greyerz audio interview where he revealed what is happening with the Swiss gold refiners and why there will be a short squeeze in the gold market, why the global economy is headed for collapse and much more. This is one of Egon's best audio interviews ever and you can listen to it when it's released by CLICKING HERE.
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The audio interviews with Dr. Paul Craig Roberts, Stephen Leeb, Andrew Maguire, John Embry, Gerald Celente, Rick Rule, Bill Fleckenstein, Ben Davies, Greyerz-Turk-Stamm, David Stockman, William Kaye, Rick Santelli, John Mauldin and Marc Faber are available now. Other recent KWN interviews include Jim Grant and Felix Zulauf — to listen CLICK HERE.