Greyerz - The Risk Of Systemic Collapse Is Now Enormous

Today Egon von Greyerz told King World News, We have had Lehman, AIG, MF Global, PFG, the latest (trouble) is Knight Capital which lost $440 million overnight.  This just shows that it’s not safe for investors to keep their money in the system.”  Greyerz also spoke with KWN about some lofty targets for both gold and silver.

Greyerz, who is founder and managing partner at Matterhorn Asset Management out of Switzerland, also said, “We are being warned that we should not keep the main part of our money there (in the financial system) because the risk that you will be totally wiped out is massive.” 

Here is what Greyerz had to say:  “Short-term let’s just look at some of the figures which have come out.  US unemployment was 8.3%, and Nonfarm Payrolls went up by 163,000.  Well, first of all we know that 8.3% is not a real figure.  I said to you last time that every figure which comes out is false and this figure was incorrect.”

Read more: KingWorldNews.com, 4 August 2012