Financial expert Egon von Greyerz (EvG) says terror attacks, like the one that just happened in Brussels, can destabilize the entire world. EvG, who lives in Switzerland, explains, “This is obviously a very sad day for our friends in Belgium, but at the same time, we know this is just the beginning, not only in Europe, but with the whole world. We are going to see a much more insecure world. It is worldwide. We know that the refugee problem has included a number of potential terrorists. . . . The problems that will be in the west were created by the U.S. and Europe. The problems that were created in the Middle East and North Africa will lead to more of this. There is anarchy in Libya. There is anarchy in Iraq, and the West has created this. So, they are paying us back, and I don’t think this is finished. We will see a less secure world, and it is not just Europe. The U.S. will see similar problems.”
EvG goes on to say, “This can never be solved with force. If the West withdrew from the Middle East and withdrew from North Africa and didn’t interfere, I think these problems would disappear. . . .So, what we have done in the West is we have destroyed these nations and made the risk many times greater than it would have been if we hadn’t interfered.”
Can terror bring down the financial system? EvG says, “Yes, absolutely. You have to remember, you are looking at a financial system which is extremely fragile. So, all you need is some kind of catalyst, and this certainly can be the catalyst. The system will not come down because of this. The system will come down because we have a rotten world where most major nations are bankrupt and where the financial system has not recovered from the 2007 to 2009 crisis. It is in a worse state today than what it was then. Therefore, this could very well be the catalyst and wouldn’t be surprised if it will be.”
Von Greyerz vaults gold for wealthy clients. EvG says, “We are fortunate enough to have the wealth preservation type clients. These are clients who understand what is happening in the world. These are people who understand the geopolitical risk, but also the financial risk in the world. These are people who are insuring future risk in the banking system of sovereign defaults and the risk of hyperinflation. There is only a half a percent of financial assets in gold. . . . We are absolutely certain that investors must hold gold against the risk we see in the world. . . .We are now set on a course where the world is going to go into a decline.”
EvG also says, “I think gold will rise substantially in coming years. I would say in today’s money, $10,000 per ounce would be at least the rise we will see. . . . Silver will move faster than gold, and I feel very bullish about both of the metals.”
On the bond market, EvG says, “I cannot understand how anybody can put any money into sovereign bonds. Every single government that is issuing these bonds . . . they are just increasing the debt and deficits every year. . . . U.S. debt is increasing exponentially. None of these governments are going to repay this debt, so why is anybody buying government bonds?”
On the recent stock market run up, EvG says, “What’s happening now is a trap, of course. . . .In January, the down trend started. . . . This is the start of a secular bear market that will take them down at least 75% to 90%. That was the fall beginning in 1929, and now the bubbles are so much bigger than they were in 1929.”
Greg is the producer and creator of USAWatchdog.com. The site’s slogan is “analyzing the news to give you a clear picture of what’s really going on.” The site will keep an eye on the government, your financial interests and cut through the media spin. USAWatchdog.com is neither Democrat nor Republican, Liberal or Conservative. Before creating and producing the site, Greg spent nearly 9 years as a network and investigative correspondent. He worked for ABC News and Good Morning America for nearly 6 years. Most recently, Greg worked for CNN for shows such as Paula Zahn Now, American Morning and various CNN business shows.