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 just warned about the greatest illusion in world history and the importance of the number 666.

The Great Illusion And The Importance Of The Number 666
(King World News) – Egon von Greyerz:  “What is history’s greatest illusion?  Is it the Indian Rope Trick or is it performed by Houdini or maybe David Copperfield? No, this is an illusion which is so big that the whole world has fallen for it. Virtually every individual in the Western world and also many in the East believe in this illusion.

The  illusion is so big and so obvious but still nobody can see it. The reason nobody can see it is because nobody wants to see it. Everybody prefers to be under the illusion that the emperor has clothes although he is totally naked. 

Later in this article I also will talk about King Salomon and the importance of the number 666 for gold and silver investors…

“WeWork” To Hemorrhage Money
Before we talk about the big illusion, let’s look at one of the many mini-illusions that has emerged in this century. The name of the company should really be “We don’t make money” but they have chosen another name which is just as bad namely “WeWork.”

I have learned since I was a young man that when you work, you are supposed to earn money. But this is a company that in this modern era is based on, as they state, “elevating consciousness” and not on something as mundane as making money. This company really seems totally unconscious. How else can they make losses of $500 million, $900 million and $1.9 billion in the last three years and lose even more this year? The management is valuing the company at $47 billion but few people agree with them. So what do they do? They rent out office space with short term leases whilse they have long term lease obligations of almost $50 billion. A very dangerous mismatch.

The founder and CEO has already sold shares for $700 million. Seems that he doesn’t believe what he is preaching. This reminds me of a company in the UK during the South Sea Bubble era in the 1720s that was raising money for a new venture. They had no activity and no detailed plans. The prospectus just said that their purpose was to make money. Well at least that is a better goal than losing billions like WeWork.

Virtually All Of The World’s Wealth Is Built On An Illusion
And sadly this is the case with the world as a whole too. Soon we will discover that virtually all wealth is built on an illusion because global wealth around $325 trillion was never real but just  an illusion based on fake or manufactured money. As global debt of $250 trillion implodes, so will the assets that were supported by this debt. In addition there is at least $1.5 quadrillion of derivatives that will totally disappear into a black hole. This will make the asset devastation exponentially greater.

The destruction of assets, when all this is finished, will mean that in real terms, stocks, bonds and property values, will most likely lose on average 90-95% (vs real money — gold). Many paper assets will disappear totally while some hard assets will fare a bit better. Since most people in the West have debt, they will not suffer terrible losses but the problem will be if they borrowed money against their houses, they will be left with negative equity. The wealthy who have most of the wealth in the world will naturally see the biggest losses.

The Big Problem For Most People
The big problem for most people is that they live under the illusion that they will be saved by governments or the central banks. The reason for this is because for decades governments have always stepped in and printed more money to prop up stock or bond markets, for social security, pensions and saved failing banks. Since governments have access to endless free money through money printing, there have been unlimited resources to solve every financial problem that arises. And now with $17 trillion of debt with negative interest, governments are now being paid for borrowing money. What an absurd world……more here