As we get ready to kickoff trading at the start of a new week, today the man who has become legendary for his predictions on QE and historic moves in currencies, spoke with King World News about the road to $33,750 gold, $575 silver and the biggest wealth destruction in history.
Are The Good Times Really Over?
(King World News) – Egon von Greyerz: “Is this it? Is the bull market finished and are the good times really over? Well, they very well could be. We are looking at a world which is rotten to the core, a world that is built on debt which will never be repaid. And a debt which is artificially supporting $100s of trillions of assets and quadrillions if we include derivatives. The supposedly most powerful economy in the world (the US) is now so indebted that it needs to fight the whole world in all kinds of different wars for its survival, with the latest being a trade war…
Egon von Greyerz continues: “Whenever a nation starts fighting with other countries, it is always done from a position of weakness. US debt has been running out of hand for a long time. Federal, state, corporate, personal, mortgage, auto, student, etc, are all escalating exponentially. On top of that the US budget deficit will be in the trillions of dollars for the foreseeable future and the trade deficit was already $600 billion in 2017 and could soon be one more trillion dollar deficit.
Starting wars is an Indication of the final stages of a troubled empire. The wars and interference in countries like Iran, Libya, Ukraine, Syria and Yemen are all part of that. So is policing the world’s financial system and so is protectionism and trade wars. These are all desperate measures of a country in a terminal decline. And it is certainly not a coincidence that this trade war started right before the oil trading in yuan begins. Eventually this will lead to the demise of the dollar and a major power shift from East to West.
Silk Road Countries Now Hold 35,600 Tonnes Of Gold!
”Nor is it a surprise that Silk Road countries have been buying major amounts of gold in this century. As the graph shows, the gold holdings of Russia, Tu…….more here