Sunday, April 24, 2016

How Long Before 
The Global Financial System Fails?
Egon von Greyerz sees a downturn in the global economy soon starting to accelerate .. says this will eventually lead to a total failure of the financial system & sovereign defaults .. "It is actually happening all around us right now .. Most central banks and sovereign governments are virtually bankrupt but so are commercial banks. Their share prices are definitively telling us that. Most major banks’ shares are down between 75% and 90% since the financial crisis ..  If we look at global company profits, they are down 20% in mature markets and 25% in emerging markets since 2014. And so far we have seen global corporate defaults of $50 billion in 2016 which is the biggest since 2009. It is all happening in front of our eyes right now. No one should wait for a major event because it will be a series of events as I have described and it has already started. It is time to take protective measures right now. The need for insurance against these risks is greater than any time in history. Physical gold can still be bought at a bargain price but not for much longer."
LINK HERE to the essay

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