Greyerz – You Must Prepare Now For The Elites’ Nightmare Endgame
Greyerz – You Must Prepare Now For The Elites’ Nightmare Endgame from King World News
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 warned King World News that people must prepare now for the elites’ nightmare endgame.
One Of The Least Desired Asset Classes On The Planet
May 12 (King World News) – Egon von Greyerz: More than 99.5% of world financial assets are invested in other things besides gold. That makes gold one of the least desired asset classes on the planet. Most professional as well as private investors would never consider gold as part of their portfolio. So if 99.5% of assets are not in gold, how can a small clique of gold owners holding less than 0.5% of world financial assets be right? They clearly look like a small minority of obstinate goldbugs and contrarians who are living in the past. Or do these people see something that the majority of investors don’t?..
Yes, gold has always been money but it is different today. Gold doesn’t work as money. There is not enough of it and it is very impractical to hold and even worse to pay with. You can’t, in a convenient way, transfer it without going through the financial system. Clearly fiat money, with electronic transfers or crypto money, must be the way forward. And the great advantage with such money is that you can create unlimited amounts of it with just a touch of a button. Who needs gold in this new modern world?
The world always thinks that it is different this time. The Keynesian crowd with their cheerleader Krugman and the MMT (Modern Monetary Theory) followers are totally convinced that unlimited money printing and deficit spending is the only way forward. And since this has worked for the US for the last 60 years, it must clearly work forever. So why can’t the US continue to run chronic budget deficits, just as it has since 1960?
The Rise Of Socialism
As the US economy collapses in the early 2020s, socialists will present the perfect candidate for the 2024 US election. As hard times hit the US, this candidate will promise the earth by having a solution for everyone, especially the poor. It will be unlimited social security, free medicare, guaranteed pensions, housing benefits, and any other freebees that will win votes. The rich will naturally be hit very hard with punitive taxes which will please the masses.