Massive Global Depression Coming as ‘Dark Years’ for The World Are Beginning, Says Renowned Expert
The comments below are an edited and abridged synopsis of an article by J.D. Heyes
The world is entering its most dangerous period since the last world war says Egon von Greyerz, an analyst who predicted the effects of QE as well as major currency shifts.
Greyerz said that all currencies will finish the 100+ year fall to zero soon, and that all the asset bubbles—stocks, bonds and property—will implode at the same time, leading to a deep depression. He also said that the world was forewarned of the 2008 financial crash a few years prior, but central banks ignored it while piling on debt—a recipe for disaster.
As is typical for the closing of an economic era, the catalyst is unexpected and worse than anyone could have foreseen. The world is in a war cycle, as recent events between Russia and Ukraine confirm.
Just as nobody paid any attention to the warning that the Great Financial Crisis in 2006-9 gave the world, few people have taken Putin’s warnings seriously since the 2014 Maidan revolution in Ukraine.
When trouble occurs at the end of an excessive bubble era, it will always be the worst kind, and what could be worse than a major war that could develop into a nuclear and world war?
Greyerz referenced Ukraine’s recent history, noting that Russia-friendly Ukrainian President Yanukovych was pushed out during the Maidan Revolution, leading to Putin’s annexation of Crimea because he could not accept being surrounded by a US and Western-backed Ukraine as well as NATO members with missile systems aimed at Russia.
The situation is similar to the Cuban missile crisis of 1962, when President Kennedy made it clear to Premier Khrushchev that the US would not tolerate nuclear-armed Soviet missiles so close to American soil.
Predictions are that as the West squeezes Russia by shunning its oil and natural resources, pressure will be put on global currencies, including the US dollar, which is already under assault thanks to Biden’s hapless policies.
Gold will be king again; Russia and China have been accumulating as much of it as possible over the past few years. Remember: He who holds the gold makes the rules.