Egon von Greyerz was recently interviewed by Eric King, of “King World News” (kingworldnews.com). During which, he warned that a bankrupt world is now headed into a period of frightening chaos. Greyerz also warned that banks and governments will not survive what is coming.
Herr Greyerz is the founder (and managing partner) of Matterhorn Asset Management, operating out of Zurich, Switzerland. This private fund specializes in wealth management and wealth preservation for high net worth individuals.
In an October 1, 2008 newsletter, von Greyerz wrote:
Central banks and governments are now in a frantic state to save banks and financial entities that are falling like dominos on an hourly basis. It is almost impossible to keep up with all the businesses that have collapsed worldwide only in the last week. The authorities around the world have no choice. They will print any amount of money to save whoever needs to be saved […] Let us be very clear; no rescue package or action will be sufficient. The authorities are throwing pennies at a multi trillion or quadrillion dollar problem. The amounts of money that need to be printed to bail out the system is so large that it would dwarf what happened in the Weimar Republic in the 1920’s.
He went on to warn “Main Street” (consumers) would soon follow the international (western) financial system into the intensive care ward. Already by 2007-08, personal loans, credit card loans, car loans, etc., were at levels that taxed the ability of most consumers to repay. Greyerz also gave a stark warning (in the Fall/Autumn of 2008) that food and energy prices would climb precipitously, in concert with falling employment levels.
As for derivatives — essentially a long string of bets placed on the future value of other bets, placed on the value of paper ‘promises’ or IOUs — they represent an outstanding obligation estimated to be worth $ 1 quadrillion: a figure so large it is quite impossible to fathom or to attach any real meaning to. Greyerz warned that a major part of these derivatives (mountains of them) is worthless although only minimal write downs have been made. The so-called “Financial Authorities” have allowed these derivatives to be marked to model rather than to market.
Inevitably, this speculative, derivatives bubble is going to burst in one way or another. In which case, no government, not even one as large as China’s or the USA’s, has the capacity to print $ 1 quadrillion worth of currency in order to cover the resulting collapse. And even if they all coordinated in order to achieve the impossible, that amount of paper currency would soon give a 5-digit price tag to a loaf of bread.
Returning to Eric King’s (August 2013) interview, Egon von Greyerz plays the Honest Messenger, everyone reflexively wants to shoot:
So you have a situation where the debt/GDP in countries like Japan and Greece is now at 200%, and it is 100% in the U.S. and Europe. If we add in unfunded liabilities, the debt/GDP ratios in most countries is around 500%, and even as high as a staggering 1000%. If you take a look at the European banking system they need to get rid of 3 trillion euros of loans, but of course they can’t afford to take the losses […] If you add in the derivatives’ losses the numbers are even more unimaginable. Total liabilities in the eurozone banking system are 32 trillion euros, which is about 3 times eurozone GDP […] As I said earlier, these are unprecedented times, and you can be sure that there will be unprecedented consequences because of all of this.
This is the end of a cycle that has probably lasted a millennium. For those very major cycles, there are no quick fixes or solutions. Governments around the world will be fighting for survival. They will also be fighting for their own economies to survive. The pressure will be enormous. Voters will throw out any government that doesn’t give them what they want, but eventually the problem will be that the governments won’t have any money to give them. So governments will have very short lives and change constantly. You can be sure that there will be massive social unrest in many countries. This will make it almost impossible to govern those nations. We will also see protectionism and isolationism — countries will turn inward. They will not be able to meet on a world stage and solve the world’s problems. If we add to this the geopolitical problems, there is a major risk of war breaking out in the next few years. Therefore, I doubt that we will see a new reserve currency in the next few years because governments will be incapable of getting together and agreeing on anything.
On the 18 February 2014, John Bingham, the Telegraph newspaper’s Social Affairs Editor filed a report entitled: Suicide ‘generation’ fears for middle aged men. Apparently, British males born during the 1950s and 1960s are now at higher risk of suicide, than young (under 25 year old) males … traditionally the peak age-group for suicides. Across all age groups, the number of people taking their own lives in the UK has fallen significantly in recent years. But this may be partly, or even substantially due to the widespread prescription and consumption of anti-depressants. Nevertheless, new figures from the Office for National Statistics (ONS) indicate the total number of men aged between 45 and 59 taking their own lives had by 2012 increased by almost 40% over that recorded about one decade earlier.
In his article, Mr. Bingham writes:
A generation of middle aged men whose working lives have been book ended by recession are now almost two and half times as likely to commit suicide as the rest of the population, official figures suggest. The same generation – born between the early 1950s and early 1970s – were at the centre of concern about high suicide rates among young men 20 years ago. Experts said that the decline of heavy industry in the 1980s and early 1990s, and major social changes affecting the workplace and family, appeared to have combined to put the generation at particular risk.
Why do we tolerate this vacuous tone of “dumb & dumber” posturing from our Journalists? Where has the manly and independent pursuit of rational explanation and cause disappeared to? Surely common-sense would have predicted dire consequences for those who have literally been used as lab-rats by the Globalists. They have incessantly connived to march nearly all Western nations towards the goal of centralized authority, social conformity, social uniformity, rule by edict … and the ‘Daddying’ of all fertile young women by the all-knowing “State”. In fact, common-sense DID predict these dire consequences. But those voices were aggressively drowned out because they were always deemed “politically incorrect”.
Apparently all that Clare Wyllie, Head of Policy and Research at the Samaritans (a national charity) can manage on this issue is to state the obvious. A summary that could have been presented by almost anyone born during the 1950s, having an IQ a few notches over room temperature:
There have been a number of significant changes in society over the last 50 years, including gender roles, families and patterns of social relationships and the decline of traditionally male industries. Our research shows that disadvantaged men in midlife have seen their jobs, relationships and identity, radically altered.
There is a growing suspicion a kind-of “undeclared war” was declared (so to speak) upon Western manhood sometime during the 1940s, with its implementation being rolled out in stages over the following 40 years. Chickens are now coming home to roost with a vengeance. Consequently I would argue, this can no longer be dismissed as just a conspiracy “theory”. Although there is no shortage of TV Soap Operas and sports events that do a wonderful job of preventing your grey matter from focusing on important issues.
All that has been done, was done with a purpose. Was it Denis Healey (a regular Bilderberg Group attendee) who once reminded us, with words to the effect: “There are no accidents in politics – everything is predetermined”? Only now are we getting increasingly regular glimpses of what that devious and dastardly purpose has been all along.
Revisionist Historians have already firmly established that ever since the defeat of Napoleon Bonaparte, and the Congress of Vienna (1814-15) that was organized in its wake, Western Europe has been mostly under the control and direction of a cartel of International Bankers acting through a mechanism known as Central Banking. So whatever you may think of the alleged capabilities of the stooges seen flanking Britain’s Chancellor of the Exchequer (above), you can be sure the core of any policy has already been shaped or approved by that unseen cartel.
With Britain’s de-industrialized economy now only a feeble shadow of what it was in the 1970s, and North Sea Oil a trickle compared to the gushing flows of the 1980s, the fate of around 65-million people really does now hinge on the success (or failure) of London’s secretive financiers: huddled like scouts around a camp fire in the tiny, independent fiefdom known as the “Square Mile”: home of The City of London Corporation.
Apparently, 2013 was a bumper year for these people; particularly for the Bank of England’s senior members and its mostly faceless stake-holders. How do we know? Well, the Telegraph Online (22 March 2014) reported that in the midst of austerity amongst the population at large, England’s Central Bank had spent almost £8,000 on 756 bottles of wine and champagne during 2013; a statistic up from £4,126 in 2012. The Telegraph routinely lies about a lot of things, but never about champagne consumption in the heart of London’s financial district! The bubbly exuberance had no positive effect on anyone’s brain cells. By February 2014, Britain’s debt pile became the equivalent of roughly 75pc of its gross domestic product (GDP). And that despite the endless, flattering revisions to the formula used to calculate that GDP.
Writing for Russia Today, John Wight (a UK national) points to the stark realities of Britain’s economic policies since 2010.
Food banks don’t lie. Their proliferation over the term of the current government confirmation that Britain in 2014 is a nation in which poverty, destitution, and the inevitable despair which follows on from those maladies is worse than at any time since the Second World War. Meanwhile, at the other end of the social spectrum, recent figures released by the charity Oxfam reveal that the five richest families in Britain share more wealth between them than the poorest 20 percent of the population – around 12.6 million people. Never mind taking a penny off a pint of beer, as the chancellor announced in his budget speech, the sheer extent of inequality in Britain in the 21st century is a travesty, the fruits of three decades of neoliberal orthodoxy that shows no sign of abating even in the midst of the worst economic crisis since the 1930s.
We urgently need to jettison the left wing / right wing paradigm. It always was a nonsense. It has clouded our thinking for too many generations. Perhaps that was the cynical intention? If we continue with it, we shall become politically sterile, and economically destitute. The real issue is surely the extent to which a psychopathic elite are being allowed to run amok with behaviours and assumptions that belong on another (infantile) planet. We are being destroyed by an infrastructure that has its early roots in some very nasty episodes of European medieval history. These assumptions and practises are no longer tenable. What are we going to do about this situation if voting only ever succeeds in changing the players, but never the game being played? And will you have the stomach for such action when the moment finally comes?
Cue … Seumas Milne … a Guardian columnist and associate editor. Where an Englishman might foolishly place his faith in the (non-existent) common decency of those ex-Eton graduates who are presently running the show, and where an American might “write a letter to his Senator” or pray to Jesus; at least we can rely on an Irishman to call a spade a bloody spade. Mr. Milne’s, Budget 2014: George Osborne’s record is a dismal failure even in his own terms pulls few punches. The article is subtitled: The chancellor’s claim to be ‘winning’ is bizarre. He has presided over the longest fall in living standards since the 1870s.
Winning? The only prize George Osborne and his Coven are winning, is the prize of making semi-conscious people believe the sky is green, that only multicultural societies can offer utopia, and that gold is essentially a worthless relic from a by-gone era.
Any sort of growth, it seems, along with the prospect that the British economy might this year return to the size it was six years ago, is now enough to count as a political breakthrough. As living standards continue to fall for the majority in the slowest and shallowest economic recovery for over a century, it’s hard to see that being accepted as a “win” across most of country. Even by their own yardsticks, Osborne and David Cameron have failed abysmally. Whether it’s the debt and the deficit, borrowing, growth, or the “rebalancing” of the economy away from finance, personal credit and the south-east, the pair have not even come close to meeting their own targets. This is a “long-term plan” that has already flopped.
Enough is enough, don’t you think? Economics is not a science. Voodoo has more going for it. Economics was, from its inception, a tool to obfuscate and “smoke screen” the activities of international shysters and con-men, who happen to have established something called a bank. If symbolism was unimportant, then why do major companies pay $-millions or $-billions to promote icons and logos in the market place? Symbolism has an extremely powerful influence upon the human psyche. And attaching importance to one small nation’s Budget in the midst of a bankrupt world carries a truly odd symbolism all of its own.
There is not much time left before irreversible damage is (yet again) committed by those operating under the symbol of an eye encompassed by a pyramid. You need to shake off your irrational fear of being called a “Conspiracy Theorist”. The only thing that is theoretical about this c. 3oo year old conspiracy is whether it is fundamentally Jewish, Venetian, Roman, Jesuit, Swiss … or just a peculiar combination of all five!
As you belatedly awake, coffee will have never smelt sweeter.