Greyerz – BIS Just Intervened In The Gold Market Because All Hell Is About To Break Loose In Financial Markets
Greyerz – BIS Just Intervened In The Gold Market Because All Hell Is About To Break Loose In Financial Markets from King World News
Today the man who has become legendary for his predictions on QE and historic moves in currencies and metals told King World News that the Bank for International Settlements (BIS) just intervened in the gold market as all hell is about to break loose in financial markets.
Each week Egon von Greyerz articles are published first on KWN.
January 10 (King World News) – Egon von Greyerz: Donald Trump is probably the luckiest presidential candidate in history to have lost an election. He doesn’t realise it yet as he suffers from a self-inflicted wound in the final moments of his presidency. Nor does Biden yet realise how unlucky he is to have won. But that will soon change as Biden’s presidency goes from crisis to crisis in all areas from monetary to fiscal to social and political. Very little will go right during his presidency.
The next four years could easily be four years of hell for Biden, for the US, and thus for the world. That is if Biden stays the course for the whole four years.
TRUMP OBLIGED AS PREDICTED
When Trump won the election in November 2016, I wrote an article dated Nov 18, 2016, called “Trump Will Grow US Debt Exponentially”
The article also contained the following graph. In the article I predicted that US debt would double by 2025 to $40 trillion and that it would be $28 trillion in January 2021 at the end of the four years.
Well, surprise, surprise, the debt is today $27.77 trillion, which can easily be rounded up to $28t. I am certainly no forecasting genius, nor was the forecast just luck. No, it was applying the best method that we have all been given but that few apply or understand. This method is called HISTORY.
DEBT UP 31X & TAX REVENUE UP 6X
US debt had on average doubled every 8 years since Reagan took over in 1981. So as Trump became president in January 2017, he inherited a debt of $20t. So then I forecast that 8 years later the debt would be $40t. The $28t forecast for January 2021, is just the mathematical point in-between $20t and $40t.