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Market Veteran Warns: “Massive Shocks In The World Financial System In Coming Years”

Market Veteran Warns: “Massive Shocks In The World Financial System In Coming Years”

This article was written by Mac Slavo and originally published at

There is a euphoria being enjoyed by many in the investment world and in economic circles centered around the notion that the world has recovered from the financial crisis of 2008. Stock markets in the United States have risen to all time highs. Mainstream financial experts imply this is a key indicator of economic growth, improved consumer confidence, and a return to boom times.

But not everyone agrees. Swiss market veteran Egon Von Greyerz suggests that exactly the opposite is the case, noting that the underlying economic fundamentals all over the world are indicative of massive problems from the United States to China.

In an interview with King World News Von Greyerz highlights his reasoning, citing numerous data points that paint a completely different picture from the one being shown to the majority of the world’s citizens.

It surprised me to see how many of those top economists and fund managers were totally bullish on the global economy based on their view of growth in the United States.

I also went to a conference for ultra-high net worth individuals in Singapore, and I noticed very little fear or concern about the risks in the world today.

So this is a very dangerous time with the people who control the investment markets having very little regard for the risks and the dangers that the world is currently facing.

We have discussed the massive risks which are present in the system and they are more ubiquitous now than ever — Japan, EU, UK, US, China, and geopolitical risks.  The financial system has the same problems today as it had in 2008, but the money printing over the last few years has achieved a calm and complacency that will lead to massive shocks in the world financial system in coming years.

A lot of the economic indicators in the U.S. are very weak.  Retail sales are plunging, bank profits are falling, home sales are falling fast, both existing and new homes, and 56 percent of Americans have sub-prime credit today.

Global debt is now around $275 trillion, or 385 percent of world GDP.  That’s $38,000 of debt for each and every person in the world.  Even the average American is one paycheck from bankruptcy.  So how does anyone ever believe that any of this debt could ever be repaid?  Well, it won’t be, that’s absolutely guaranteed.

All this will lead to unprecedented money printing and hyperinflation.  Thereafter we are likely to see a deflationary collapse of the financial system.  We will certainly be looking at a very different world in coming years.

Excerpts from full interview made available by King World News

The notion that the global economy is in recovery and that the United States has exited the recession of 2008/2009 is a facade.

Michael Snyder at the Economic Collapse Blog and Jim Quinn of The Burning Platform recently noted that despite the purported success of government cash infusions, America’s death rattle is growing louder as household retail brands are being absolutely pummeled by a lack of consumer spending.

Retail store results for the 1st quarter of 2014 have been rolling in over the last week. It seems the hideous government reported retail sales results over the last six months are being confirmed by the dying bricks and mortar mega-chains. In case you missed the corporate mainstream media not reporting the facts and doing their usual positive spin, here are the absolutely dreadful headlines:

Wal-Mart Profit Plunges By $220 Million as US Store Traffic Declines by 1.4%

Target Profit Plunges by $80 Million, 16% Lower Than 2013, as Store Traffic Declines by 2.3%

Sears Loses $358 Million in First Quarter as Comparable Store Sales at Sears Plunge by 7.8% and Sales at Kmart Plunge by 5.1%

JC Penney Thrilled With Loss of Only $358 Million For the Quarter

Kohl’s Operating Income Plunges by 17% as Comparable Sales Decline by 3.4%

Costco Profit Declines by $84 Million as Comp Store Sales Only Increase by 2%

Staples Profit Plunges by 44% as Sales Collapse and Closing Hundreds of Stores

Gap Income Drops 22% as Same Store Sales Fall

Ann Taylor Profit Crashes by 75% as Same Store Sales Fall

American Eagle Profits Tumble 86%, Will Close 150 Stores

Aeropostale Losses $77 Million as Sales Collapse by 12%

Big Lots Profit Tumbles by 90% as Sales Flat & Exiting Canadian Market

Best Buy Sales Decline by $300 Million as Margins Decline and Comparable Store Sales Decline by 1.3%

Macy’s Profit Flat as Comparable Store Sales decline by 1.4%

Dollar General Profit Plummets by 40% as Comp Store Sales Decline by 3.8%

Urban Outfitters Earnings Collapse by 20% as Sales Stagnate

McDonalds Earnings Fall by $66 Million as US Comp Sales Fall by 1.7%

Darden Profit Collapses by 30% as Same Restaurant Sales Plunge by 5.6% and Company Selling Red Lobster

TJX Misses Earnings Expectations as Sales & Earnings Flat

Dick’s Misses Earnings Expectations as Golf Store Sales Plummet

Home Depot Misses Earnings Expectations as Customer Traffic Only Rises by 2.2%

Lowes Misses Earnings Expectations as Customer Traffic was Flat

Of course, those headlines were never reported. I went to each earnings report and gathered the info that should have been reported by the CNBC bimbos and hacks. Anything you heard surely had a Wall Street spin attached, like the standard BETTER THAN EXPECTED.

Those are the facts.

Last week well known contrarian economist John Williams made two dire predictions. First, the government’s Q1 economic growth numbers would be revised downward and actually show that the economy shrank for the first three months of the year. This has now been confirmed with official revisions showing negative one percent growth.

Second, Williams predicts that come July 30 the second quarter will verify that the United States has entered another recession, which is officially defined as two consecutive negative growth quarters.

Once these data are released it will confirm what we’ve been warning about for many months – that there is and has been no economic recovery. The U.S. (as well as China and Europe) are about to hit the next wave of this broader depression.

There is, as Williams noted, no way of saving the system at this point, echoing Von Greyerz’s assessment that we will soon be living in an unrecognizable world.

It won’t all happen overnight, but a collapse is all but assured at this point.

Those who have made the effort to get informed and taken steps to prepare for the inevitable calamity that is to come will fare much better than the 99% percent of Americans who will be totally blindsided when life as we have come to know it comes to an abrupt halt.




  1. I must admit, I have been desensitized. My heart rate no longer increases wit the anticipation of a collapse. The can has been kicked down the road for so many years now that I feel it is all fluff.
    It has been going to happen for so long I am now thinking I have wasted a very lot of money on prepping. Really!, lets get it done or not. I now feel like a total fool and will never mention this problem to the friends I have left, why? Because if I listen to either side it is wrong and I have nothing but BS to talk about. Well what else can I say, I sure hope on not alone in my feelings.

  2. Hello Fellow Patriots,
    I do agree with Ron. You are not alone. I promise you are not alone. The economy,political process,the military,our schools and churches as well as our judicial system is all under attack. A satanic attack. From the start….A President who does not take his oath with his hand on the bible to chewing gum at the Normandy Memorial Ceremony and everything in between… A very long list I might add-Benghazi to SF teams being intentionally compromised to the economy to our purging of senior military leaders and on and on. We as a country are under Satanic assault and we are being destroyed from within…I believe it is all intentional and methodical. Sharia law is slowly being introduced and approved in pockets of our country and it will spread unless we have staunch hard core Christian leaders with a backbone and plenty of money to bring back a well disciplined agenda that has Christian/Constitutional based leadership. Sorry to babble but I am a pissed off that our government would trade 5 Taliban -hitbirds for 1 potential traitor -hitbird. May God bless our country. Please join me and get on your knees and pray for our Nation and the warriors who protect us.

  3. Well it looks like the final slap in the money area is close to being. Reverse Interest where the Banks admit the money is theirs and we must now pay to use it. Got to love these people…

    Here is my place on action to be taken by the American People against this Total Corruption by ALL of our government.

    Voting them out is NOT possible as we must do it in small segments at a time, no chance of a total house cleaning. Now to all those people that say they have nothing to hide (BS), everyone has something they would rather keep under the covers! So now we vote into office a small group to replace the radicals and guess what, all of a sudden ours saviors are Turn Coats. Why and how could this happen? Folks the spying has been going on for so long and such huge masses of data collected on everyone that when our knights on the white horses try to stay knights.. Someone brings a bit of personal history into the equation. Our knight must now select which path at the Y in the road and guess what direction the majority select???

    So I feel we are in an arm wrestling match with corruption and we are much stronger, yet holding back on showing that strength because of the pain it will cause when the big push is required. Problem is, if one waits to long, MATCH OVER.

    Each day looking at how they view and act against us makes me think it is time, the push must come now. They have fired the first shot and many after that, have they not?

  4. Are Americans with wealth going underground?
    Leaving the country?
    Readying for the Obamunista ww3?

    Or are Americans being rounded up by law enforcement and their wealth confiscated?

    I’ve gone to severAL garage sales in Chicago area.
    Personal pictures, underwear, ladies undergarments, children’s pictures still in the frames.
    Things that normal people would never sell. Diplomas, baby albums, underwear, etc.
    What happened to those families? Why would they leave like that?

    Did they leave in haste?
    Rounded up by government?
    Killed by Mexican cartels?
    Escaping to a underground shelter in prep for war?

    At each location the family pictures were of upper class white or upper class affluent black families.
    So you would assume it was their homes. They were in pictures being sold, still in the frames.
    Yet Mexicans were in charge and selling the items at garage sale. In EACH case. The same.

    I do not know what to make of it. It bothers me. Anyone else notice this stuff?
    There are massive warehouses of Mercedes, BMW, Range Rover, Jaguar, cars in Dallas, Tx.
    Tens of thousands of cars stored indoors. They claim to be sales locations.
    I went in to buy a car. They tried to shoo me away. I had the money and was ready to buy good used
    car for my daughter. They weren’t interested in selling. WTF?

    Also massive amount of used multi tools, small pocket knives, etc being sold online and at gun shows in Oklahoma.
    Like big tubs of these in good condition used items. Who gives up multi tools?

    None of these things make sense, Anyone have explanation? Are people being rounded up or Leaving USA in haste?

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