Central banks in the Western world have set the scene for an “even bigger version” of the 2007-2008 global financial crisis, Societe Generale’s bearish strategist Albert Edwards has claimed.

In a research note on Thursday, Edwards said that China’s intervention to stabilize its volatile stock market was part of a larger global story, in which “rock bottom” interest rates and large fiscal deficits in the western world were pushing the global economy towards a fall.

“QE (quantitative easing) will be stepped up to such a pace that you will hear the roar of the printing presses from Mars,” Edwards said.

“I have not one scintilla of doubt that the western central banks have set us up for an even bigger version of the 2008 Great Financial Crisis.”

QE has been a mainstay for several major central banks in the wake of the crisis, with money created to buy assets like government bonds (U.S.: US10Y), helping to inject liquidity into markets with the aim of stimulating the broader economy.

Given his forecast step up in money-printing, Edwards said that gold (Exchange: XAU=), which tends to perform well during periods of high inflation, was a “must-have” safe-haven investment.

While Edwards forecast prolonged ultra-easy monetary policy, many investors expect an interest rate hike by the U.S. Federal Reserve as early as this fall.

Read more: http://finance.yahoo.com/news/ready-relive-2008-crisis-albert-135017190.html

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Evangelist Dina Amelia Kalmeta is the Founder and CEO of Your New Life in Christ Ministries - CWW7NEWS. Evangelist Dina reports on world events as they pertain to Bible Prophecy. Before Your New Life in Christ Ministries, Evangelist Dina served as a Leader for INCHRIST NETWORK leading teams online and spreading the Gospel of Jesus Christ. Her mission today is to bring hard evidence that what is taking place in the world isn't just coincidence, but indeed proof that the last days the Bible warned us about are upon us right now.