Western World’s Perpetual Motion Ponzi Scheme To Collapse
February 28, 2013
Today Egon von Greyerz warned King World News that the Western world is now fully engaged in a perpetual motion Ponzi scheme and a collapse is coming. Greyerz, who is founder of Matterhorn Asset Management, also said that propaganda will not save the West from what is coming. Here is what Greyerz had to say in this remarkable and exclusive interview: “Eric, the world is broke, and more and more individuals are broke or going broke. The reality now is that most individuals are one paycheck away from going under. These same people are also loaded with debt in many case. Students are also broke and they have massive loans but no jobs.”
Egon von Greyerz continues:
“The elderly have been drawing more than anticipated from their retirement accounts to cover their living expenses because they have little or no interest income. This is why people consistently reject any austerity measures proposed by Western governments.
The Italian election this week was very significant….