“Losses Will Be Devastating,” Triggering A Derivatives Blow-Up And Worldwide Collapse
Today the man who remarkably predicted the collapse of the euro against the Swiss franc warned King World News that “losses will be devastating,” triggering a derivatives blow-up and worldwide collapse.
Egon von Greyerz: “Eric, I’m looking at the bond markets, worldwide. What we’ve seen now both in the U.S. and in Germany is that rates have increased pretty fast in the last few weeks. “If you take the U.S. 10-Year Treasury, for example, it has gone from 1.6 percent to 2.2 percent. Well, that’s a 40 percent increase in yields. We have seen a similar move in German bunds.