Man Who Predicted Collapse Of Euro Against Swiss Franc Warns Next Global Financial Disaster Is Coming

"And in Switzerland, as I predicted, the SNB (Swiss National Bank) obviously had to let the peg go in January.  I also forecast that they are sitting on a time-bomb with their massive currency position in euros and dollars.  Well, the SNB has just announced that they lost over $50 billion Swiss francs in January on their currency positions.  Eric, that loss is 60 percent of their capital and 8 percent of Swiss GDP.  This loss is massive.  If the Fed lost 8 percent of U.S. GDP, it would be $1.4 trillion.  This goes to show that central banks should not manipulate their economies or speculate with their nation’s money or gold.

We all remember that both the UK and Switzerland sold most of their gold at the bottom  of the market in 1999.  And with the amount of gold that is now flowing from West to East, I would not be surprised if most Western countries have covertly reduced their gold holdings by as much as 50 percent or more.

Coming back to Switzerland, they have now sold 380 million Swiss francs of 10-Year bonds with a negative yield.  And the SNB pays a negative rate of 0.75 percent on deposits.  Eric, do you realize that both savers and pensioners receive a negative yield on their investments.  The long-term consequence of this is very serious for the world.

Central Bank Madness Leading To Revolution Or War

Central banks and governments have mismanaged their economies in the last 100 years to such an extent that as Paul Tudor Jones said, ‘It will either lead to revolution, war, or massive tax increases.'  In my view, the risk of all three of these happening are very high.  What is certain is that in coming years the bubbles in debts, stocks and real estate, will burst..."

at http://kingworldnews.com/man-who-predicted-collapse-of-euro-against-swiss-franc-warns-next-global-financial-disaster-is-coming/