Greyerz: Greek Deal to Collapse Causing Trillions to be Printed
March 8, 2012
Today Egon von Greyerz told King World News even if a Greek deal is announced, at some point it will collapse. Von Greyerz also said the consequences of the collapse will be massive. Egon von Greyerz is founder and managing partner at Matterhorn Asset Management out of Switzerland. Here is what von Greyerz had to say about what is taking place in Europe and how it will impact gold and silver: “Well, it’s ridiculous. Every few minutes we are seeing a different headline. One second Greece is being saved and the next second the deal is collapsing. Yesterday, for example, three UK banks signed up and that still only leads to 40% acceptance and one of the banks that signed on was Royal Bank of Scotland.”
Egon von Greyerz continues:
“Royal Bank of Scotland is a bankrupt bank that is owned by the British government. This is the bankrupt leading the bankrupt. It’s absolutely ridiculous. If this deal is happening now, it would be a miracle. It could happen, but at some point the deal will collapse anyway.
They are saying they have an agreement, but I don’t think they do. Therefore, if Greece collapses, whether it’s today or whether it’s in a few weeks time, the consequences are massive.
It’s not just the $200 billion, we are talking about consequences for the other countries in southern Europe, Italy, Spain and Portugal….