Legend Issues Dire Warning About A Terrifying Future And The Trigger For Total Global Collapse

Greetings,

Legend Issues Dire Warning About A Terrifying Future And The Trigger For Total Global Collapse

On the heels of seven weeks of chaotic trading in markets, today the man who has become legendary for his predictions on QE, historic moves in currencies, and major global events, just issued a dire warning about a terrifying future and the trigger for total global collapse.

Egon von Greyerz: “Eric, the world is likely to enter the worst economic downturn in history at any time now. There have been depressions in many countries and regions before, but the world has never been in a situation when every single major economy is on the road to bankruptcy.

KWN Russell II 9:23:2015The Fed, A Dire Warning And Total Collapse
Egon von Greyerz continues: “During the last 100 years, the Fed and their partners in crime have created a system based on false prosperity. The damage they have caused the world economy will sadly lead to total collapse. As von Mises said:

“There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of voluntary abandonment of further credit expansion, or later as a final and total catastrophe
of the currency system involved.”

The final collapse is not one event. It is a long process. John Galbraith describes in his book “The Great Crash – 1929,” that people at the time did not see it as one event like a stock market crash but like a series of events. Things just got gradually worse month after month until the whole of the US was in a depression. And this is what we are seeing today. There hasn’t been a spectacular market crash yet but that might or might not come. Instead, it could also be a series of crashes over a longer period.

KWN Greyerz II 4:10:2015The Beginning Of The End
Eric, since the gold standard in the US was ended in 1971, we have seen a build-up of debt and a destruction of many currencies. For example, the dollar has lost 77% against the Swiss Franc since 1971. Then in the late 1980s Greenspan started the process of irresponsible monetary policy. Markets, politicians and investors loved it of course because so many people became rich on paper. The 2000 market crash was a hiccup that was soon forgotten with more money printing and more debt. Greenspan’s Crown Prince Bernanke was even more productive and doubled US debt during his reign. The 2007 – 2009 crisis led to unprecedented credit creation worldwide. So from the time Greenspan embarked on the disastrous policy of printing money, global debt has increased more than tenfold from $20 trillion to $230 trillion.

In the meantime, in most countries we have bubbles in stocks, bonds, property and debt. We have massive political and economic problems in Europe with the EU and with a banking system that won’t survive. Japan is a disaster, China is a credit bubble and all emerging markets are now failing due to the unsustainable combination of collapsing commodity prices and debts that can never be repaid.

We also have massive geopolitical dangers in the Middle East, Ukraine and the South China Sea and we have a serious migration problem in Europe.

All these things are part of the process. The world has never before seen a confluence of problems and risks of this magnitude. In spite of that, very few people realize the dangers that the world is now facing…..More Here

Click here for reuse options!
Copyright 2016 Hiram's 1555 Blog