Living In Wonderland On The Road To Massive Worldwide Wealth Destruction And Panic

Living In Wonderland On The Road To Massive Worldwide Wealth Destruction And Panic
March 05, 2015
  

Today the man who 90 days ago remarkably predicted the collapse of the euro against the Swiss franc warned King World News that we are now living in Wonderland on the road to massive worldwide wealth destruction and panic.

KWN Greyerz V 3:5:2015

Are We Living In Wonderland?

Egon von Greyerz:  “Eric, we are now in Wonderland, where anything is possible.  Real money disappeared a long time ago and we have only fiat money that can be created out of nothing.  And whatever needs governments have, they can just print more money to achieve it.  But the problem now is that the needs of most countries are growing exponentially because printed money requires more printed money to keep the wheels moving….

Continue reading the Egon von Greyerz interview below…

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“In the U.S., for example, it took 200 years to increase the federal debt from zero to $9 trillion.  But since 2007, just before the crisis started, U.S. debt has more than doubled from $9 trillion to over $18 trillion.  So in 8 years Bernanke and Yellen have presided over a debt creation of more than $9 trillion that previously took the U.S. 230 years to achieve.

Debt-Deficit-America-Usa

U.S. Debt To Hit $260 Trillion By 2020?

Eric, it would be a miracle if the debt is only $26 trillion by 2020.  It’s more likely that it reaches $260 trillion or more — with hyperinflation — as the U.S. government and the Fed desperately try to save the country from going under.

King World News Powell IX 2:25:2015

Everyone Prospers In Wonderland, Or Do They?

But in the meantime Wonderland continues to prosper.  The stock market is at a high, despite earnings and sales declining.  And the latest forecast by the Atlanta Fed for 2015 has now been revised down to 1.2 percent growth.  I’m quite certain that in Q3 and Q4 of this year GDP will be negative. 

But according to the mainstream media, the dollar strength indicates that the U.S. economy is growing.  Yes, since every currency in the world is falling, there must be one currency that rises.  So the dollar is the last currency standing.  But, to me, it’s very clear that this dollar strength will only last a couple of months.

KWN Pento 2:21:2015

U.S. Debt And Derivatives A Staggering $600 Trillion

The dollar is only backed by unsustainable levels of debt and zero interest rates because U.S. debt is now at $250 trillion, including unfunded liabilities, plus there is another $350 trillion in worthless derivatives.  And with most production capacity exported to China, there is absolutely nothing that supports the dollar.

King World News --- Are We Headed Into The Most Shocking Panic In World History?

Situation To Unravel Fast

Underneath the dollar there is no support.  Instead there is a black hole.  So once the dollar falls and the U.S. economy with it, things will start to unravel very fast, not just in the U.S. but in the whole world.  Although other currencies will gain relative to the dollar, investors should not join any of these currencies on their final leg to the bottom.  Because all currencies will continue to decline in real terms and the only money which will hold its purchasing power is, of course, gold.

King World News Greyerz I 3:5:2015

Gold To Hit New Highs As Metal Of Kings Flows East

And as the dollar soon starts falling, gold will resume its uptrend to the old highs of $1,900 and eventually to levels which are hard to imagine today.  The wise central banks and countries of the world, like Russia and China, are continuing to buy gold.  This is taking place while there is very little buying of physical gold in the West.  But that will soon change.

Andrew Maguire - Sovereigns Buying As Massive Tonnage Of Paper Gold Liquidated In Minutes!

Major Sustained Surge In Gold Price Coming

There will not be enough supply of physical to satisfy both the new demand and the massive amounts of paper gold that will ask for delivery.  Therefore we will see a major sustained surge in the gold price.

As the dollar turns down, so will stock markets.  They are currently being supported by the massive creation of liquidity that we have seen in the last few years but there is no real economic growth.  Real growth is absolutely impossible with the current levels of world debts.

King World News - Man Who Predicted Riots In Athens And Chaos In Markets Now Says World Hurting Toward Full-Blown Collapse

Massive Worldwide Wealth Destruction

So when the stock market turns, which could be in the next couple of months, we are unlikely to revisit current highs for many years.  After the 1929 peak it took the Dow 25 years to regain the high of 1929.  This time we are looking at a much bigger worldwide bubble, so it could take a lot longer for markets in real terms to reach the current highs once they have started the great decline.

And for people who don’t see that economic activity is already declining worldwide, just look at the Baltic Dry Index:  It’s now down 57 percent in one year and 30 percent in 2015.  Eric, that is a very severe warning indicator exposing what is really happening in the world.  Investors around the world who fail to heed that warning risk massive wealth destruction.” ***ALSO JUST RELEASED: Man Who Predicted Riots In Athens Now Warns All Hell Is Going To Break Loose As Greece To Exit Euro CLICK HERE.

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King World News has been taken offline a number of times in the past few weeks, including today.  It has become very clear by now to all KWN readers around the world that governments in the West do not want the alternative news and information we provide to be shared with the public.  This has resulted in an increasing number of attacks on the site.  King World News will do everything in our power to get back online as quickly as possible each time the site is taken offline and thank you for your many emails of support.

The audio interviews with Michael Pento, Gerald Celente, David Stockman, Marc Faber, Eric Sprott, Felix Zulauf, Andrew Maguire, John Mauldin, Egon von Greyerz, Dr. Paul Craig Roberts, Lord Christopher Monckton, Bill Fleckenstein, Dr. Philippa Malmgren, Stephen Leeb, John Embry and Rick Santelli are available now. Other recent KWN interviews include Jim Grant — to listen CLICK HERE.

Eric King
KingWorldNews.com
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