Sound The Trumpet : What We are Now Seeing is Unprecedented in World History

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“What We are Now Seeing is Unprecedented in World History”
by KWN
March 30th, 2013

Today Egon von Greyerz warned King World News that the chaos we are seeing right now is unprecedented in world history. Greyerz, who is founder of Matterhorn Asset Management out of Switzerland, also cautioned “The confluence of these cycles will cause unimaginable turmoil in the future.” Below is what Greyerz had to say in this remarkable interview:

Eric King: “Clearly the banks have reopened in Cyprus, your thoughts in the aftermath of all of this?”

Greyerz: “Eric, they have opened, but the problem is still there. Banks still don’t have enough money. The package which has been put forward by the Troika is not going to last. If they ever, which they might not, lift the exchange controls and restrictions on Cyprus banks, then we will see a run on the banks again....

Therefore, I think this problem will be a permanent one, and it will also be a model for future problems. As this accelerates and moves into Slovenia and Italy, the aid and the package which will be necessary for these nations is so much bigger.

The fear will also be that much greater as larger nations are engulfed in these problems. Then the world will really start to become concerned and eventually panic. This is when you will see people buying physical gold and silver in much larger quantities. This is also a time when you will see massive panic short covering in the paper gold and silver markets.

I think we could see this type of panic in 2013. The system is so fragile, Eric, and the nations such as Italy, Spain, Greece, Portugal, they will revolt. They will not accept having the Troika, the ECB, or the EU telling them what to do. They will exit, that is absolutely certain.

So the panic will be of a magnitude that no one can understand today. This will lead to destruction of paper currencies. It will also lead to precious metals going up dramatically as they will ultimately reflect the destruction of the paper currencies.

There are two ways for people’s savings to disappear: It can be stolen by investors or depositors having to take massive cuts. The money can also be stolen or destroyed through endless money printing. This money printing is absolutely guaranteed in the future.

Whatever path we see, investors will suffer. Anyone holding cash today in the banking system will have, number one, the risk of the banking system, and secondly the risk of confiscation or taxation. But third, there is the destruction of their money through endless paper money printing. This will ultimately lead to the currencies going to their intrinsic value which is zero.”

Eric King: “What should people expect to see going forward?”

Greyerz: “We are in unprecedented times. What we are seeing right now could be the end of a 2,000 year cycle, or possibly the end of a 300 year cycle. We also have the end of the 100 year cycle which is based on the creation of the Fed in 1913. The confluence of these cycles will cause unimaginable turmoil in the future.

What is clear is that the world has been living above its means for a very long time. What we have seen has been the result of printed money and a massive increase in credit. This is why much of what we have seen is not real growth, and therefore the wealth is not real wealth. This is why the current system cannot last.

We now have a house of cards, and as I said before, this is unprecedented in world history because this is happening in every country in the world. Every single country is indebted to a level that has never happened on a worldwide basis before. This is why the consequences will be so much greater than the what the world has ever experienced at any time in history.

Eventually the current system will implode, and we will see a dramatic lowering of the standard of living. Before that time you will have social unrest, war, cyberwars, etc. But you will have massive suffering. So, sadly we are entering very difficult times. It could take decades of turmoil. Remember, the Dark Ages after the fall of the Roman Empire lasted 500 years.

So we could see an initial fast decline of the world economy, and then we could just go along the bottom for a very long time. What is clear is that it will happen, and the first phase of this will take place in the next few years. Unfortunately the world will suffer for a very long time.”

Looking for His glorious appearing! Titus 2:13