Greyerz: Greek Deal To Collapse Causing Trillions To be Printed !
- It is a question of when the dominoes will start to fall. If not Greece then one of the PIIGS will trigger the collapse! Got physical gold yet?
Greyerz: Greek Deal to Collapse Causing Trillions to be Printed !
Today Egon von Greyerz told King World News even if a Greek deal is announced, at some point it will collapse. Von Greyerz also said the consequences of the collapse will be massive. Egon von Greyerz is founder and managing partner at Matterhorn Asset Management out of Switzerland. Here is what von Greyerz had to say about what is taking place in Europe and how it will impact gold and silver: “Well, it’s ridiculous. Every few minutes we are seeing a different headline. One second Greece is being saved and the next second the deal is collapsing. Yesterday, for example, three UK banks signed up and that still only leads to 40% acceptance and one of the banks that signed on was Royal Bank of Scotland.”
As things head south you have the whole of the European debt situation that will unravel and the ECB will have to save a lot of other countries. Of course, the US would also be involved through a lot of the CDS’s and there will be a few trillion dollars the US will need to come in and support. So, whether the money printing starts this week or whether it starts in a few weeks time, it will start. Hyperinflation is very likely to happen …
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