In this important discussion between Egon von Greyerz of Matterhorn Asset Management and Grant Williams of Real Vision TV, they talk about the fake prosperity we live in, facilitated by negative interest rates as well as endless money printing and the dire consequences this will have for the world.
Central banks are manufacturing money out of thin air and also making it free. So the money is worthless and so are the assets that the printed money supports.
The inevitable consequence of this is a massive implosion of the fake wealth bubble and also the debt bubble made of fake money. This will lead to tremendous wealth destruction, hardship and suffering for people around the world.
Egon argues that Central Banks shouldn’t exist since they are destroying the financial system by manipulating the laws of nature and interfering with the normal business cycle.
Grant and Egon also discuss:
- The destruction of savings and pensions
- With major bank failures in Europe, Mme Lagarde of the ECB becoming the most powerful woman in the world
- The Swiss National Bank corrupting the bedrock of Swiss society
- Central Banks around the world panicking due to major problems in the financial system
- J.P. Morgan with the biggest derivative position in the world and the potential reason for recent Fed actions
- There will be no liquidity as the $1.5 quadrillion derivative bubble implodes
- The similarities between August 1971 and August 2019
- Saving the system is impossible
- Gold being the best performing asset class in the 2000s
- The importance of gold in the coming crisis
- The coming hyperinflationary depression combined with asset deflation
- We are facing the end of a 200 year or maybe a 2000 year cycle for the world economy
- The importance of family and a circle of close friends
Author: Egon von Greyerz