July 28, 2019
As the world edges closer to the next crisis, today the man who has become legendary for his predictions on QE and historic moves in currencies just warned central banks are now panicking behind the scenes, worried the financial system may disappear into a black hole.
They Will Fail, Followed By Panic And Despair
July 28 (King World News) – Egon von Greyerz: “The messages from the ECB and the Fed couldn’t be clearer. They are seeing major problems in the financial system and in the world economy and they will do whatever it takes to save the system. But they will fail.
The autumn of 2019 will see a major shift in sentiment as markets turn from a secular bull to a secular bear. We are likely to see major crashes in many global stock markets. Virtually no one is prepared for this so there will be both panic and despair.
The US stock market is today more overvalued than in 1987, 1999 and 2006