As the world edges closer to the next crisis, today the man who has become legendary for his predictions on QE and historic moves in currencies, told King World News that the final doomsday clock is close to midnight.

A Tide In The Affairs Of Men
 (King World News) – Egon von Greyerz:  “With global investment markets standing at crossroads, investors have the option to lose it all or to benefit from the biggest wealth transfer in history. I have quoted this passage from Shakespeare’s Julius Caesar many times but it is more appropriate than ever for the situation the world is now in: 

“There is a tide in the affairs of men Which, taken at the flood, leads on to fortune; Omitted, all the voyage of their life
Is bound in shallows and in miseries.
On such a full sea are we now afloat; And we must take the current when it serves, Or lose our ventures.”
― William Shakespeare 

Sadly, very few will take the correct current and that is why the majority of people will end in shallows and miseries. The wealthy will lose the majority of their fortunes and many of the poor will be exposed to even greater poverty and famine. I know this sounds like another prophecy of doom, but we don’t need to go further than Venezuela, with inflation reaching 1,000,000 percent and the currency collapsing by 99.9% this year, to understand what can happen. A cup of coffee costs 2 million bolivars and most Venezuelans can neither get hold of nor afford sufficient food for their family. A major part of the adult population has lost 25 pounds (11kg) in weight…

Egon von Greyerz continues:  “In most countries in the West, it is still not too late to prepare a wealth preservation plan. People who have savings and investments have a lot more to lose, relatively, than the poor, but for the less well off it will be a matter of survival just like for the Venezuelans. 

There are many survival guides in regards to all aspects of life. Jim Sinclair has, for example, written an excellent “Be Prepared” series that covers many of these aspects. 

Catastrophic Falls Will Destroy Wealth
Probably less than 1% of investors will take the tide which “leads to fortune.” What most people won’t understand is that the Central Bank credit expansion bonanza is now coming to an end. The exponential moves up in stocks, bonds and property prices, will turn to catastrophic falls that will destroy most of the wealth in the world. 

In the next 3-7 years, it is not going to be about making a fortune, but how to lose as little as possible. 

So let’s look at the major risks and the best financial protection. 

The bubble assets will of course be the most vulnerable. If we start with the Nasdaq, it is up by over 700% since 2009, driven by the FAANG stocks (Facebook, Apple, Amazon, Netflix, Google ). So since the 2009 bottom, a $10,000 investment (in 2009) would today be worth $70,000 by just buying the index, a 24% annual growth rate. The Dow and S&P 500 indices have gone up slightly less but are still at all-time highs due to the massive liquidity created by central banks since the 2007-9 crisis. 

At the same time most stock markets are greatly overvalued, there are markets that are severely undervalued and ignored by most investors……more here