Greyerz – The Final Phase Of A Worldwide Euphoria Is About To End In Catastrophe
KingWorldNews.com
February 04, 2018
As we continue to kickoff the second month of trading in 2018, today the man who has become legendary for his predictions on QE and historic moves in currencies, warned King World News that we are now in the final phase of a worldwide euphoria that is about to end in catastrophe.
February 4 (King World News) – Egon von Greyerz: “Virtually no investors study history and the few who do always think it is different today. The most important lesson is that people never learn. If they did, they wouldn’t be invested in a stock market that on any criteria is now at a bubble extreme. And they wouldn’t be invested in a global debt market which has grown exponentially in recent decades and which will become worthless in the next few years as debtors default. Nor would anyone hold paper money, which is down 97-99% in the last 100 years, and which is guaranteed to soon fall the final bit to take the value to zero.
The history of money clearly illustrates that “Plus ça change, plus c’est la même chose” (the more it changes, the more it is the same thing). The most constant factor in the history of money is the cycle of boom and bust or euphoria and despair. Cycles are part of nature just like the change of seasons.
But throughout history, mankind has always believed that they know better than previous generations and can eliminate the cycle of boom and bust. This is what the British prime minister Gordon Brown proudly declared before the economy collapsed in 2007…
The Rest…HERE
