Greyerz – This Will Come As A Massive Shock To People

kingworldnews.com / April 30, 2017

As we get ready to kickoff what promises to be a wild week of trading, today the man who has become legendary for his predictions on QE, historic moves in currencies, spoke with King World News about what is going to come as a massive shock to people.

“This Is The New Normal!”
Egon von Greyerz:  “This is the new normal”! That is what a professional advisor stated at a recent family office in London after I had outlined the risks due to the credit and asset bubbles.This is what is so frightening about any top in such an extreme economic cycle. Peak optimism and peak asset prices go hand in hand. I did not experience the 1929 crash or the depression, but a few quotes from that remarkable period of time expresses the typical euphoria at a market peak. 

“We in America today are nearer to the final triumph over poverty than ever before in the history of any land. The poorhouse is vanishing from among us.” — President Edgar Hoover, 1928 

“There is no cause to worry. The high tide of prosperity will continue.”
Andrew Mellon, Treasury Secretary, September 1929 

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