Opinion (Egon von Greyerz, Founder of Matterhorn Asset Management in Switzerland): “Central banks still believe that by printing money they can kick-start their economies and save the financial system. That’s not the case. There is no chance whatsoever to change the outcome of an indebted and bankrupt European economy….
“Even though this will have a short-term effect on markets, people need to understand that this just creates even more debt that will never be repaid. But the ECB is now pushing on a string because, sadly, printing money is the only thing they know how to do. …
“This is what all central banks have done — they’ve trapped themselves in a corner. They have zero or negative interest rates, they are printing more money, and they are buying more assets that they can’t sell and that are worth a lot less than they are paying for them. So every single central bank in the world is bankrupt because they will never, ever get the price for their assets that they paid for them. This is why the financial system will not survive, Eric, and a total global collapse is now in front of us.”
My Comment: The opinion of this man should be reckoned with. But no one reacts. “Central banks still believe that by printing money they can kick-start their economies and save the financial system.”
This will continue until the end because we cannot imagine a system other than an egoistic one because we have no other, altruistic properties. Kabbalists can only:
- Gradually implement, where possible, their education
- By their unity bring Ohr Makif (Surrounding Light) – the correcting force (the Upper Light).
Indeed, only after people start getting appropriate changes in themselves will they be able to understand what the Kabbalists call for.