Fed Will Not Taper & You Can Expect Chaos After The Decision
December 17, 2013
Today the 42-year market veteran who correctly predicted that the Fed would not taper at their last meeting told King World News to expect chaos after the Fed once again decides not to taper tomorrow. He also spoke about what this decision by the Fed will mean for major markets, including gold. Below is the powerful and timely interview with Egon von Greyerz, who is founder of Matterhorn Asset Management out of Switzerland.
Eric King: “Egon, you made the fantastic call last Fed Meeting that we would see no tapering and that would shock the world. You also said gold would soar that day and that’s exactly what took place. What are you looking for this time?”….
Continue reading the Egon von Greyerz interview below…
Greyerz: “Eric, there will be no tapering. It’s impossible. They can’t taper because the situation in the US is still very desperate. Today, for example, we had the news from Zions Bankcorp, which is in Utah, that if they have to follow the Volcker Rule and value their debt at market value, not at maturity value,
This is what I’ve been saying all along, if banks had to value their toxic debt at market value the banking system would not survive. The Fed and the rest of the central banks know this. That means they will absolutely not stop tapering because the banking system would not stand. It would not survive either in the US or in Europe. This is why the Fed decision will definitely be no tapering.