Tuesday, July 28, 2015

Chaos, Propaganda And Why This Global Panic Will Be So Brutal

"Today the man who has become legendary for his predictions on QE, historic moves in currencies, and major global events warned King World News about the coming chaos in Europe and why this global panic will be so brutal.  He also discussed the increased use of propaganda by the Western mainstream media.

Egon von Greyerz:  Eric, the world is bankrupt financially, economically, and morally, but through manipulation and deceit we are led to believe that all is well. It’s absolutely absurd that all the bubble assets are at highs, while wealth-preservation assets are totally bombed-out….

“But absurdities always end badly and so will this one. The elite and the media are continuing to fool the people about the state of the world. We have now been led to believe that the problem in Greece has been solved and therefore so has the looming disaster in Euroland.

Smoke, Mirrors And Propaganda
So once again the elite managed to kick the can down the road, but the can has now turned into a boulder. Once again the powers that be used their smoke and mirrors, together with propaganda, manipulation, and more debt that will never be repaid.
The situation in southern Europe is as bad as ever, regardless of what we are being told. And it’s not just Greece, Spain, and Portugal — it’s virtually every country in Europe. They all have debts and deficits that are unsustainable. They all have governments that are socialist and depend on debt and deficit spending.
Expect Chaos In France
And talking about countries that are in trouble, I have for some time said France will be the next major problem for Europe.  France’s economy is very weak and the French unions will ensure that the country will be paralyzed.
French unions strike all the time. I had an experience with that this week, driving from France to the UK. The unions had locked the entrance to the Eurotunnel, paralyzing all private and commercial traffic for many hours. As the French economy deteriorates, the country will eventually come to a standstill due to strikes.

What About Gold?
Turning to the gold market, the $50 smash that we saw on Monday of last week is yet another sign of the repression taking place around the world. If this kind of action were taking place in the stock market, there would be investigations and prosecutions.
But in the gold market, investment banks have carte blanche to do whatever they want because they are acting as agents for their respective governments.  A high gold price reflects the deceitful actions of governments as they totally mismanage their economies and destroy the value of their fiat currencies.

The West Has Already Depleted Most Of Its Gold
This is why the Western central banks have probably depleted most of their gold holdings in the last few years by selling or leasing gold to keep the price suppressed.  There is now probably very little physical gold left to be sold. But the fraud in the gold market is unlikely to continue for very long. The trigger for the change will be a downturn in global stock markets.
Both technically and fundamentally, stock and bond markets now look like they have reached a major top. People think that a correction may be coming, but what they are really facing is an end to the credit and asset bubbles of the last hundred years. I expect major falls in stocks and bonds this autumn, followed by a long-term secular bear market in the world economy as well as markets. When stock markets collapse, investors will believe that the governments will once again rescue the markets, but this time that will not be the case..."

at http://kingworldnews.com/chaos-propaganda-and-why-this-global-panic-will-be-brutal/

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