Today the man who 52 days ago remarkably predicted the collapse of the euro against the Swiss franc just issued a second terrifying prediction. This King World News interview takes a trip down the rabbit hole of desperate central banks, massive losses and total global collapse.
Eric King: “Egon, the ECB has just announced this 1.1 trillion euro package in a desperate attempt to fight off deflation.”
Greyerz: “These decisions by the central banks have virtually no impact whatsoever on the underlying economy over the longer-term. They did what they had to do because the European banking system as well as the economy is in dire straits.
Central banks still believe that by printing money they can kick-start their economies and save the financial system. That’s not the case. There is no chance whatsoever to change the outcome of an indebted and bankrupt European economy….More