Today the man who has become legendary for his predictions on QE and historic moves in currencies and metals warned King World News that the US economy is crashing but the global collapse will be even more terrifying.
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“Everyone wants to live
at the expense of the
state. They forget
that the state wants
to live at the expense
of everyone.”
Frederic Bastiat
August 28 (King World News) – Egon von Greyerz, Founder of Matterhorn Asset Management (based in Switzerland): Contrary to what the wisest men and women in the land have told us, the world has been hit by the most vicious bout of inflation.
The “transitory” heads of the Fed and ECB clearly couldn’t recognise inflation until there was a scapegoat like Putin to blame it all on.
The fact that Powell, Lagarde and their predecessors had laid the perfect foundation not just for a small spell of price increases but for an unstoppable avalanche of global inflation, they were totally oblivious of.
NEITHER COVID NOR PUTIN IS THE CAUSE OF INFLATION
Let’s be very clear.
Covid didn’t create inflation.
Putin didn’t create inflation.
No, inflation is the result of governments’ and central banks’ irresponsible and totally irrational policy of believing that prosperity can be created out of thin air.
They don’t understand or at least choose not to understand that reckless creation of fake money that has zero value CREATES ZERO WEALTH.
Money in itself has ZERO value. Money is just a derivative that derives its value as a medium of exchange through the production of goods and services.
In simple terms, money that has derived value from anything but goods and services has ZERO value.
…click on the above link to read the rest of the article…
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