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What We Are Now Seeing Is Unprecedented In World History
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”
21st Century Wire is an alternative news agency designed to enlighten, inform and educate readers about world events which are not always covered in the mainstream media.
2013-04-02 06:48:28
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