As we move through what promises to be a rowdy month of trading in June, today the man who has become legendary for his predictions on QE, historic moves in currencies, told King World News that whether people choose to believe it or not, a massive global collapse is about to unfold.
Many of us who interview on KWN are Cassandras. We are predicting a future for the world which is unpleasant for most people and therefore some people may choose not to believe our predictions. It is part of human nature to believe that the current state of affairs will go on forever. And that is the case whether times are good or bad. In bad times, everyone believes that it will never end. I remember vividly the 1970s in the UK when it felt like the severe recession was going to be permanent. It is the same now; conventional wisdom says that the economy will continue to grow at a steady pace and so will assets such as stocks and property. Very few realize that the growth we have seen in the last few decades is totally false and based on credit and printed money.
Believe It Or Not, A Massive Global Collapse Is Coming
Cassandra was the daughter of the king of Troy in Greek mythology. The god Apollo gave Cassandra the power of prophecy but when she resisted his approaches, Apollo inflicted a curse that no one would ever believe her prophecies although they were all accurate. And this is exactly what is happening to Cassandras or soothsayers today. Many of us are totally clear about the consequences of the total mismanagement of the economy during the last 100 years. Gradually the situation has deteriorated to a point when there is no solution. Instead, at some point in the next few years the debt and asset bubbles will implode with dire consequences for the global economy and for most people on the planet. But just like with Cassandra, nobody believes what we are saying when we are predicting the likely outcome of the most massive, government led, global Ponzi scheme in history…
Egon von Greyerz continues: “Don’t get me wrong, we were not knowingly given prophetic powers by Apollo or any other god. But a few of us are absolutely convinced that you cannot build prosperity on a lie, on printed money, or by breaking laws of nature that have stood the test of time. We now live in a world where lies have become the truth. As George Orwell said:
“The very concept of objective truth is fading out of the world. Lies will pass into history.”
In order to run a successful Ponzi scheme, participants must be made to believe that they are all winners. Human beings’ inherent greed prevents them from seeing that a Ponzi scheme eventually runs out of money since it will require a few billion creatures from another planet for everyone to get their pay-out. In a modern economy, unlimited amounts of money can of course be printed or created electronically. And this governments will do in a final and desperate attempt to save the world. But just like with a Ponzi scheme, all this manufactured money will have zero value. Otherwise, why don’t we just print unlimited amounts of money and stop working and stop all production. This would be the perfect Shangri-La world with nobody working and everyone living in total affluence. But sadly, it is not that easy.
Governments’ money forging scheme, which has lasted a century, is now coming to an end. The value of all major currencies in the world has declined 97-99% in the last 100 years. In the next few years we will see money printing of a scale that make all these currencies worthless by declining the final 1- 3%. Though, what we must remember is that this final move involves a 100% decline in value from today. ….more here