Greyerz – Panama & Paradise Papers, Global Meltdown And The Road To $80,000 Gold
Greyerz – Panama & Paradise Papers, Global Meltdown And The Road To $80,000 Gold from King World News
With continued uncertainty around the globe, today the man who has become legendary for his predictions on QE, historic moves in currencies, spoke with King World News about the Panama & Paradise papers, global meltdown and the road to $80,000 gold.
Panama & Paradise Papers
November 12 (King World News) – Egon von Greyerz: “What will happen between now and 2025? Nobody knows of course, but later in this article I will give a little peek into the next 4-8 years.
The concentration of wealth in the world has now reached dangerous proportions. The three richest people in the world have a greater wealth than the bottom 50%…
“The top 1% have a wealth of $33 trillion, while the bottom 1% have a debt $196 billion.
The interesting point is not just that the rich are getting richer and the poor poorer. More interesting is to understand: How did we get there and what will be the consequences?
As the socialist dominated media dig into the Panama Papers and now recently the Paradise Papers to attack the rich and tell governments to tackle the unacceptable face of capitalism, nobody understands the real reasons for this enormous concentration of wealth. Sadly no journalist does any serious analysis of any issue, whether it is fake economic figures or the state of the world economy. Instead, all news is accepted as the truth, when in fact a lot of news is fake or propaganda.
Let me first put the facts right. It is not capitalism in its traditional sense which has created this enormous concentration. One definition of capitalism is:
“An economic and political system in which a country’s trade and industry are controlled by private owners for profit, rather than by the state.”
The “controlled by private owners” part of the definition fits our current Western system. But what is missing is that the current economic system could not function without complete state sponsorship and interference. This is the clever construction that a group of top bankers devised on Jekyll Island in the US, in November 1910. This was the meeting that led to the creation of the Fed in 1913. The Central Bank of the US was set up as a private bank, and thus controlled by private bankers for their own benefit.