30% Stock Crash Next with Germany Kaput & US Insolvent
The comments below are an edited and abridged synopsis of an article by Egon von Greyerz
The stock market could see a 30% drop in the next few weeks, on the way to a 90% drop in the coming years.
That the Dark Years are approaching has been clear for a long time; they are the unpleasant antidote to a fake monetary and financial system that was doomed to fail the day it was created in 1913 when the Fed was founded.
The Fed is controlled by private banks and exists for their benefit alone. The fact that the Fed has an official raison d’être to control inflation and maintain full employment is just to please the politicians.
The Fed was always intended for the benefit of the bankers since the day it was conceived in 1910 on Jekyll Island. The illusion that the Fed can control inflation and employment is total nonsense.
In 50 years, von Greyerz has seen official US inflation go from 5% to 15% to—today— 9%. For over 10 years, the Fed tried to get inflation up to 2% but failed. And now it is 9% and rising, and it will have zero chance to get it down to 2% for years.
So the Fed has failed abysmally to control inflation. And just as Jefferson said, inflation will lead to hyperinflation before the monetary system collapses into a deflationary depression.
As paper currencies finish the journey to zero in the next few years, ordinary people will face poverty, hunger and misery as the world economy implodes.
Gold (and silver) will not make a bankrupt world solvent, but in times of crisis it has always been real money and a saviour for the people who hold it.
Von Greyerz discusses the dark years; Germany is kaput; the dark years are starting; the US—a banana republic; hyperinflation will come—like Guyana and Venezuela; and wealth protection.