Greyerz: THIS IS IT! The Global Financial System Has Started To Collapse
- Greyerz: THIS IS IT! The Global Financial System Has Started To Collapse
by https://kingworldnews.com/
Today the man who has become legendary for his predictions on QE and historic moves in currencies and metals warned King World News that people better have an escape plan because the global financial system has started to collapse.
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Collapse
March 19 (King World News) – Egon von Greyerz, Founder and Managing Parter of Matterhorn Asset Management: Anyone who doesn’t see what is happening will soon lose a major part of their assets either through bank failure, currency debasement or the collapse of all bubble assets like stocks, property and bonds by 75-100%.
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Many bonds will become worthless. Wealth preservation in physical gold is now absolutely critical. Obviously it must be stored outside a broken financial system. More later in this article.
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The solidity of the banking system is based on confidence. With the fractional banking system, highly leveraged banks only have a fraction of the money available if all depositors ask for their money back. So when confidence evaporates, so do the balance sheets of the banks and depositors realise that the whole system is just a black hole.
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And this is exactly what is about to happen. For anyone who believes that this is just a problem with a few smaller US banks and one big one (Credit Suisse), they must think again.
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read more.
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