by Greg Hunter
USA Watchdog
Wealth preservation expert Egon von Greyerz is not bullish on the U.S. dollar. Greyerz explains, “More and more countries are trying to go away from the dollar, and I think the days of the dollar are counted. I think the dollar is going to start falling rapidly in coming months and years. Of course, it already has fallen dramatically in the last few decades, but that will now accelerate. It will go down to its intrinsic value which is zero, which most currencies do over their lifetime. Of course, we have the movements in Russia and China with alternative currencies for commodities like oil, etc. There will be a very disorderly reset with currencies falling. They can’t all fall at the same time, but they will fall dramatically, and gold will, of course, reflect that. The stock markets are in a bubble, and they will also fall. I think the secular bull market we have seen is finished. Now, we are going to see a very long bear market. Of course, the biggest bubble of them all, where governments do all they can to keep the bubble going, is the bond market. We have more debt than ever and interest rates at zero. That just doesn’t add up.” Greyerz goes on to say, “You can’t have governments borrow more than ever and have interest rates at zero. You can only do that temporarily because you have governments printing money and artificially holding interest rates down. That will not last either. So, the reset will be dramatic. It won’t happen overnight, but there will be events that trigger short term pitfalls, but this is a long term thing.”
Greyerz also predicts, “There will be one event after another, and instead of all the good news we have seen . . . now, we will see just bad news coming out. Sadly, we are just at the end of a major era.”
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