King World News weekly – July 17, 2014
Greyerz: “Eric, the U.S. dollar hegemony and role as a reserve currency is soon going to come to an end. This will lead to a precipitous fall of the dollar. The further consequences will be severe U.S. exchange controls. It will be virtually impossible for private individuals to transfer any funds out of the United States. It won’t matter if the transfer is for investment purposes or for holiday use. The fall of the dollar will also lead to major pressures in the U.S. economy and the U.S. financial system. So the U.S. will experience bail-ins and the U.S. will see forced transfer of savings into Treasuries as the budget deficit escalates to a much higher level……
My interview ended just minutes before the horrible and brutal incident in Eastern Ukraine with MH17.
Egon von Greyerz