Egon von Greyerz Responds To Fed Decision And Issues Dire Warning About Why The World Financial System Is Headed For Total Collapse
On the heels of the Fed’s decision not to raise rates, today the man who has become legendary for his predictions on QE, historic moves in currencies, and major global events, just spoke with King World News about the Fed’s decision and why the world financial system is headed for total collapse. There is also an email included from one of our KWN readers as well as a fascinating response.
Egon von Greyerz: “It was no surprise to me that the Fed did not raise rates today because I have repeatedly said on KWN that the Fed would not raise rates. The Fed knows the true economic figures, and the real figures are disastrous…
The global situation is incredibly serious and the banking system in Europe is now on the verge of collapse. So the ECB is standing ready to increase money printing because without that, neither Deutsche Bank, nor the Italian banks, nor the Greek banks, will survive.
Gold and silver are on their way, initially, to $10,000 and $1,000 respectively. But they will soar to much greater heights as hyperinflation gets underway as the massive money printing experiment accelerates, and then leads to total collapse.”
The following email was sent to KWN by one of our readers…
Back in 2008 my wife and I were living in Des Moines, Iowa while she continued her education. I had closed my practice as a financial planner and moved with her. She made friends with a couple and he was in the same boat as I was, following along as his wife attended law school. He found a position with Wells Fargo at their West Des Moines Campus, and for me this is where the story gets interesting.