Greyerz – This Will Be Spectacular And Frightening, Plus China Has More Than 20,000 Tonnes Of Gold
KingWorldNews.com
December 15, 2019
As the world edges closer to the next crisis, today the man who has become legendary for his predictions on QE and historic moves in currencies and metals spoke with King World News about what will be spectacular and frightening, and also said China has more than 20,000 Tonnes of gold.
Since The Great Financial Crisis Started
December 15 (King World News) – Egon von Greyerz: “Since the Great Financial Crisis started in 2006, global debt has more than doubled from $125 trillion to $260 trillion. The more money that has been printed, the lower interest rates have gone. In 2006 US short term rates were 5% and between 2008 and 2015 they were ZERO. Today they are at 1.5%. But at the same time almost $13 trillion global debt stands at negative rates.
So the world has manufactured $135 trillion debt with the push of a few buttons and at ZERO cost since 2006. This means that more than 2x annual global GDP has been created at no cost and with no service or goods produced. Instead fake money has been printed which corresponds to TWO YEARS’ global production but no one has done a day’s work or manufactured a single product, so this money has been created out of thin air…
The Rest…HERE
