“2020, The World Economy: A Video Metaphor”
Wednesday, January 1, 2020 9:18
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“Alas, regardless of their doom, the little victims play!
No sense have they of ills to come, nor care beyond today.”
- Thomas Gray,
“Ode on a Distant Prospect of Eton College”
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“2020, The World Economy: A Video Metaphor”
$250 trillion world debt, $2.5 QUADRILLION derivatives wave…
Metaphoric real world effects time compressed? Yes.
Ultimate global results exaggerated? No.
Conceptual conclusion valid? Yes.
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“Financial System Disappearing into Black Hole”
By Greg Hunter’s USAWatchdog.com
“Financial and precious metals expert Egon von Greyerz (EvG) says the signs abound that we are nearing the end of this global fiat money experiment while central bankers are befuddled. EvG explains, “The central banks are panicking. They don’t know what to do anymore.They are just starting to print money and with the euro on a daily basis. Europe is starting QE again with $20 billion a month, but that’s nothing compared to what is coming. The panic that started with central banks in the summer in late July and August was, to me, the first step towards total chaos in the world that we will be seeing in the months and years to come. They (central bankers) see it clearly. They know the banking system is absolutely on the verge of collapse. They know Deutsche Bank (DB) and CommerzBank, too, are down 95%. If you show this chart to a child and ask where is that likely to go, it is likely to go to zero. DB, with their $50 trillion in derivatives, there is no chance they will survive. Of course, Germany and the ECB is panicking because that will affect the whole banking system worldwide. This is why they have started to print money now because there is a massive liquidity problem, and that’s Germany, which is the best country in the EU from the point of economics. Then you take Italy, Spain, France and Greece and they are in a real mess. This is why the whole system is on the verge of disappearing into a black hole. With the U.S., there is massive liquidity pressure there too.”
The massive amount of money printing to keep the fiat system afloat is just starting. EvG contends, “This is just a practice round. This is just more money at this point. The balance sheet of the Fed is going to go from around $4 trillion to $40 trillion. It is going to go to $100 trillion before this is over. So, right now, they are just practicing a bit because they are going to put the pedal down to the bottom very soon. There is no other way to save this system, it has gone too far. I am not a pessimist. I don’t want to see the end of the world, but you can see their actions. You can see that now there is absolutely no way out. The only thing they know is to print money. They have already reduced rates to zero or negative, which is a disaster in and of itself.”
EvG predicts, “All of these bubble assets that are based on just credit and credit expansion are going to implode measured in real terms, measured in gold. I expect the stock market and the property market to lose at least 95% or more in real terms. The next up cycle for gold (and silver) has started. The next phase of this market has started, and it is going to go on for a long, long time. It is going to go to levels that will be hard to believe today. The world cannot have solid growth until this debt has imploded. The transition will be terrible, but I don’t see any other solution to this. The debt can only be wiped out by also wiping out all the asset values. You can’t just make the debt disappear and have the assets stand there at the values that they are today. When this debt is written off or implodes, or whatever they want to call it, that means all these assets are going to go down. That’s why I am saying it is going to go down 95% against gold. There is absolutely no other way, in my view.”
“Join Greg Hunter as he goes One-on-One with Egon von Greyerz, founder of
Matterhorn Asset Management, which can be found on GoldSwitzerland.com.“
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“It Won’t All Be Bad: Another benefit will be that moral and ethical values will return. Rather than ruthlessly chasing false values like the golden calf or the 7 sins like greed, envy, gluttony, wrath etc, the only way to survive the coming period will be virtues like kindness, true love, humility, honor, honesty, integrity and real friendships. Family and close friends will again become the kernel of society and extremely important for spiritual and physical survival.
We must remember that whatever happens it won’t be the end of the world. It will be different and there won’t be the decadence that signifies the end of a major era like we are experiencing now. Life will go on and although many people will suffer severely during the transition, the coming reset will create a better world.
- Egon von Greyerz,
“95% Stock Market Loss And A Can Too Big To Kick”
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Any questions?
Source: http://coyoteprime-runningcauseicantfly.blogspot.com/2020/01/2020-world-economy-video-metaphor.html
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