It’s happened again. For the third time in the past six weeks, the man who has become legendary for his predictions on QE, historic moves in currencies, told King World News that another scandal unfolded in Switzerland as one of the two largest banks in Switzerland refused to return a clients’ gold the bank was supposedly storing for the client. Even more surprising is what the client did next.

3rd Swiss Bank Scandal Unfolding, But First…
(King World News) – Egon von Greyerz:  “What is absolutely certain is that global wealth will be totally decimated in the next 4-8 years. It doesn’t matter if you are very rich or “just own a house” with some equity left. Most of it will come down in value by 75-95% in the next few years as the debt and asset bubbles implode. But what very few people realize or plan for, is the confiscation of wealth that will take place in coming years. There will be confiscation of wealth on many levels.

With times deteriorating, governments will be thrown out as ordinary people  become dissatisfied with their rapidly declining ability to survive. Many people will lose their jobs, and governments’ ability to help the poor and hungry will decline rapidly due to falling tax revenues. During that process, opposition parties will promise the earth.  Thus we will see a society in upheaval due to political turbulence, social unrest, dire economic circumstances as well as anarchy.

Many parties in the West have turned socialist or communist in latter years, and this trend will continue as the climate deteriorates. With the ruling party desperately fighting for its own survival, their task becomes increasingly impossible as there is no money left in the coffer and printed money no longer has any value. Opposition parties will promise solutions to all the problems and will have no difficulty becoming elected. But as they get into power they will also fail desperately. In most Western countries there will be left wing parties ruling but we might also see far right leaders emerging due to the anarchic situation.

As tax revenues decline rapidly, governments will desperately look for new ways of increasing the state’s income. Normal people at this stage will be very poor so it will serve no purpose to tax them. The obvious target will of course be the wealthy. At that stage, the wealthy might already have lost half of their fortune or more, but socialist governments looking for revenue will ensure that most of their remaining wealth also disappear…..more here