Egon von Greyerz: The USA and emerging markets all being virtually bankrupt.
In this interview, shot in beautiful Catalonia in Spain, Egon talks to Sheila who is a private investor with concerns about the safety of the financial system.
Egon outlines the sovereign debt problems with countries from Japan, China, Europe and the USA and emerging markets all being virtually bankrupt.
Sheila asks about the safety of keeping assets in the bank; Egon explains that this risk is now higher than it has ever been in history.. Banks are in a much worse position then they were in 2006 when the financial system was on the verge of collapse. Since that time global debt has gone up exponentially.
Wealth preservation and insurance against these risks are topics that Sheila as an investor in very interested to understand and Egon explains the best way to achieve this.