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2016 Will Be One Disaster After Another – Egon von Greyerz

Monday, December 21, 2015 11:51

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(Before It's News)

Egon von Greyerz

TND Videocast Spotlight: Greg Hunter’s USAWatchdog.com

Financial expert Egon von Greyerz says the recent Fed rate hike will not help the financial markets. Greyerz predicts, “I think we will have one disaster after another, first in the junk bond market, then in emerging markets and, after that, the subprime markets. Subprime car loans and student loans I see as another massive problem area. It is going to be one thing after another that will unravel. Since 2008, when the world almost went under, we have printed or increased credit by 50% or by $70 trillion, and the world economy is still struggling to survive. I think the real change in confidence will come down when markets come down. . . . I think things will come down very quickly.”

Von Greyerz, who was a top European banker and stock market expert for nearly 20 years, points out, “World trade is coming down dramatically. . . .The Fed is totally out of sync with reality. This is a world market. The U.S. is not an island unto itself. . . . The sad think is the Fed has created a massive bubble. They should have increased rates a long time ago. By not letting the market forces take their due course, we now see in the U.S. the most massive asset bubble ever in history. That would not have happened if they would not have kept interest rates at 0% for 7 years. . . . There is nothing that justifies a rate increase, at this point, except the face saving measure taken by the Fed. They had told the market this, and they didn’t dare to do anything else. . . . I think what will happen now is this quarter of percent will not last for very long. It will have to come down. . . . All the indicators are that we are going to get shocks going into 2016, and their increases they are forecasting are not going to happen. It is more likely that they are going to lower rates.”

On currencies, von Greyerz says, “I think currencies worldwide will continue to come down, and the dollar is overvalued and is going to come down. Of course, that will mean people will start selling bonds. We know that the bond market is the biggest bubble in the world.”

Click here to read the rest of Greg Hunter’s write-up and to access the active comment section.

After the Interview:

There is free information and articles on Egon von Greyerz’ website, GoldSwitzerland.com.

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About Greg Hunter:

Mr. Hunter is the producer and creator of Greg Hunter’s 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. Greg Hunter’s 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. Greg encurages feedback and welcomes comments. You may also support USAWatchdog.com by clicking here to donate. Reprinted with permission.