Greyerz – There Is A Tide In The Affairs Of Men…
November 15, 2012
With continued volatility in global markets, today Egon von Greyerz spoke with King World News about the precarious state of the financial world and key markets, including gold and silver. Here is what Greyerz had this to say: “I was talking to you last week about how Japan was a disaster waiting to happen. I was pleased to see John Embry agreeing with me on Japan because John is one of the wisest men I know. So Japan is in a mess, but you don’t have to go far to look at another problem which is China.”
Egon von Greyerz continues:
“China has been dealing with over-investment and easy credit for years, and it’s a bubble. There is a bubble in the economy in China, there’s a credit bubble, there’s a property bubble. China is the only economy in the world that is totally built on credit.
Most emerging economies are built on investment out of profit….