Broken World Economy Cannot Escape Scylla & Charybdis

As the world economy desperately tries to navigate to a safe harbour, is it going be pulled down by the six-headed monster Scylla or the Charybdis whirlpool (Homer’s Odyssey). It seems likely that Scylla is now starting to swallow parts the world before Charybdis will finish it off. A world severely weakened by debt and mismanagement is unlikely to have the strength of Odysseus to pass both obstacles without disastrous consequences.


  • The global monetary system is about to collapse and with that the world economy
  • After 50 years of mismanagement and excesses, the world is now in intensive care
  • Trillions of printed dollars created the illusion of all being well on the Western Front
  • MMT – Modern Monetary Theory supports the ludicrous printing actions
  • But MMT is Money Making Tomfoolery
  • Tens of millions are furloughed or lost their jobs – no problem just print more
  • Your company is going bust –  print some more
  • Leisure industry is collapsing – just print more
  • Government deficit surging – no problem, print unlimited amounts
  • 2006-9 was the rehearsal with the grand spectacle starting now
  • With the Dow up 5x and Nasdaq 10x since 2009, why worry
  • Because debts have doubled since 2006 to $275 trillion with risk up exponentially
  • World had another warning in Sep 2019 with panic printing by central banks
  • Who cares about warnings – stocks can only go up
  • Of course nobody took warning seriously as stocks went to new highs in Feb 2020
  • Stocks are just reacting to money printing as fundamentals are deteriorating
  • And tech stocks are still in euphoria just like 1999. We all know what happened then
  • Here is the crux – Stocks topped in Feb 2020 & the correction up finished on June 8
  • Our proprietary cycles confirm that June 8 is the market correction high
  • Illusion of a V recovery will be crushed
  • Market crash is imminent. It could start slowly but it could also be violent
  • The catalyst is irrelevant. It could be anything like CV-19 or a bank failure
  • The next leg down in stocks will shock a world which is totally unprepared
  • Dow has lost 67% against gold since 1999
  • Further fall in stocks of 95% in real terms (vs gold) is guaranteed
  • Dollar has lost 85% against gold since 2000
  • US dollar and all currencies will race down to intrinsic value of ZERO
  • Big shock will be collapse of debt markets and skyrocketing rates
  • Get ready for a summer-autumn of horrors and discontent


  • Gold and silver will continue to reflect the destruction of paper money
  • Gold will quickly reach $2,000+ and silver $23-25
  • Major gold & silver shortages coming
  • Medium/long term targets higher than anyone can imagine: $10k – $50k?
  • Protect yourself against bankrupt financial system &  failed currency system
  • Hold physical gold as life saving insurance
  • Gold and silver is for everyone not just the wealthy
  • You can buy one gramme of gold for $60 or one tonne for $57 million
  • One ounce of silver is $20 and a tonne is $580k
  • Store it safely outside a failing banking system
  • For bigger investors hold the metals outside your country of residence

We have had all the warnings.

Don’t let Charybdis pull you down.

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It would be irresponsible not to take immediate

action to protect your family and your assets.

Egon von Greyerz
Founder and Managing Partner
Matterhorn Asset Management
Zurich, Switzerland
Phone: +41 44 213 62 45


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