On the heels of Spain asking for $125 billion to bail out their collapsing banking system…there will be a massive worldwide package coming out between the Fed, the ECB, the IMF and other central banks. The money printing is imminent. As I see things, we are on the road to perdition,…there is no exit strategy for the world (to get) out of these problems. There is no solution. If you look at what happened in 2008, people thought that was bad, but what’s going to happen, starting this year and in the next few years, will make 2008 look like a small rehearsal because the real collapse is going to start now.
So says Egon von Greyerz (www.matterhornassetmanagement.com) in edited excerpts from his interview with Eric King of King World News as brought to you by Lorimer Wilson, editor of www.munKNEE.com (Your Key to Making Money!). This article must be included in any article reposting to avoid copyright infringement.
“We’re seeing every week, one domino after the next that is falling. So far they are only smaller dominos such as banks, smaller countries, etc.. No (major) country has fallen, but that will come. Every single economic figure is looking worse. World trade is declining — Chinese exports of steel were down 14% last month, U.S. exports to the eurozone were down 5% last month and that is likely to increase to minus 20% if not more.
The decline of world trade means the start of a depression”
Editor’s Note: You also might want to read the following article which concurs with von Greyerz’ point of view: http://beforeitsnews.com/story/2239/629/Expect_Surprise_Global_QE3_To_Shock_Markets.html
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