Joe Granville’s Warning, Full-Blown Crisis, Total Wealth Destruction And $10,000 Gold
KingWorldNews.com
December 13, 2015
Today the man who has become legendary for his predictions on QE, historic moves in currencies, and major global events spoke with King World News about full-blown crisis, total wealth destruction and $10,000 gold. But first, a warning from Joe Granville.
“As soon as you think you’ve got the key to the stock market, they change the lock.”
Joe Granville
Egon von Greyerz: “Eric, the whole investment world is waiting nervously for the Fed decision. Whatever the Fed does will no effect whatsoever on the global economy in the long term. We have an over-indebted world that has lived above its means for too long and whatever the Fed and other central banks do will not change that…
Egon von Greyerz continues: “Short term the Fed decision is likely to cause massive volatility, with potential losses in the trillions of dollars. We know that no central bank has ever forecast a recession or depression. And even when an economy is in the midst of a full-blown crisis, such as 2007, the Fed couldn’t see it.
And right now the Fed is in a massive conundrum. For face-saving reasons they need to raise rates. If not, confidence will be lost in the Fed’s ability to manage the economy. The problem the Fed has next week is that there is no reason whatsoever to increase the federal funds rate. If anything, the Fed should follow the lead of the ECB and other European central banks and lower the rate to negative. Negative rates will not save the world economy, but a rate increase in the United States would take place at the absolute worst moment in time.
The Rest…HERE
