"Today Egon von Greyerz told King World News that around the world,
the average debt to GDP is at a staggering 350%. Egon von Greyerz is founder
and managing partner at Matterhorn Asset Management out of Switzerland. Von
Greyerz also stated that even if the number was cut in half, to 175% debt to
GDP, it would require the elimination of $25 trillion of debt. But first, here
is what Greyerz had to say about what is happening in Europe: “Yesterday
the Swiss franc came very close to the 1.20 level versus the euro. This is
happening because bad economic news is coming out of Europe. Industrial
production is falling and Spanish rates versus German rates, there is now a 4%
gap, now people are getting worried about that again. So they are buying the
Swiss franc.”
at http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/4/6_Greyerz_-_Gold_Bottom,_$25_Trillion_in_Debt,_ECB_%26_Swiss_Franc.html
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