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  • medicalstara medicalstara May 18, 2013 6:49 AM Flag

    Coming Collapse, Massive Global Debt & The Bernanke Fed... May 17, 2013 --Part1

    Today Egon von Greyerz wrote the following tremendous piece with accompanying charts. King World News is extremely pleased to share this exclusive piece with our global readers. Below is what Greyerz, who is founder of Matterhorn Asset Management out of Switzerland, had to say in his outstanding piece.

    The Most Productive Man In History
    As precious metals investors worldwide are concerned about the correction in gold and silver let me tell you that you must not be.

    The incredible concoction of debt, derivatives (that will never be repaid with normal money) and accelerating fiscal deficits in most countries will guarantee money printing in unlimited quantities.

    “And Bernanke (and his successor) and fellow central bank heads will not disappoint. The only important criterion in the job description of a central bank chief is that he/she is willing and able to print whatever is necessary and in the next few years that will most likely involve printing 100s of trillions of Dollars, Euros and Yen.

    So it is guaranteed that Bernanke and other central banks will continue their superb productivity. Bernanke has of course been the most productive man in history. In his 7 years as Chairman of the Fed he has printed more money than during the whole history of the USA. US Federal Debt has between 2006 and 2013 gone from $8.4 trillion to $16.8 trillion. Bearing in mind that it took 230 years for the US debt to reach $8.4 trillion in early 2006, this is quite a feat achieved by Bernanke.

    But this is of course just the beginning. Bernanke (and successor) will not only have to print for the US. They will have to print and give money to the IMF, to the ECB, to the BoE, the BoJ and to cover $1.1 quadrillion of derivatives which will be worthless. It is unlikely that the world’s central bank computers will have enough zeros to cope with this infinite money printing.

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