Greyerz – Governments Stand Ready With Massive Package
June 15, 2012
With more bailouts needed in Europe and around the world, today Egon von Greyerz told King World News, “Governments are standing ready with a massive package.” Egon von Greyerz is founder and managing partner at Matterhorn Asset Management out of Switzerland. Von Greyerz also said that because of the money printing, “Gold is on the verge of a major breakout here.” Here is what Greyerz had to say about the unfolding crisis: “In Spain, the interest rate is now 7%, which is totally unsustainable for them. They can’t afford to pay 7% or even 5%. Sales and other economic figures in Spain are collapsing. Retail sales are down 10%. Slovenia is the next country that some are predicting will collapse.”
Egon von Greyerz continues:
“Italy is not far away from it (collapse). Now even countries like Holland, retail sales dropped 11%, but it’s spreading everywhere. It’s incredible that the Mayans forecast 2012 would be the end of a major era. It looks, today, like we are standing on the eve of massive changes in the world that will have consequences for a long, long time to come.
The scene is already set….