Greyerz – Silver Is Coiling For Major Upside Explosion In Price
June 14, 2013
On the heels of the IMF warning the U.S. about the danger of ending QE prematurely, today Egon von Greyerz told King World News that silver is now ready for a major upside explosion in price. Greyerz also discussed the possibliity of a collapse in China as well as what is happening with gold and inflation. Below is what Greyerz, who is founder of Matterhorn Asset Management out of Switzerland, had to say in this exclusive interview.
Greyerz: “In the short-term, Eric, European interbank loans are collapsing which means the system is under great strain. And the major part of the Fed’s money is going to foreign banks.
There is also a massive liquidity shortage in China. It (the liquidity shortage) is now at an all-time high. The Bank of China wants to drain liquidity, but they can’t since that would mean a collapse of the financial system….