In my most recent article, A Stock Market Collapse and Surge in Gold is Imminent, I discuss the excesses in the world and the effects that will have on the financial system and the stock market as well as on the gold and silver prices.
Yes, some readers might find that a forecast of $10,000 gold and $500 might sound sensational and not serious. Let me make it totally clear that it is not my intention to be sensational. No, what I am describing are just the consequences of total economic mismanagement by world governments and central banks for the last hundred years.
$10,000 gold is not sensational. I made that forecast already back in 2002 when we invested heavily in gold for our investors at $300. Remember also that the $10,000 gold is a forecast in today’s prices. But I don’t believe we will have today’s prices. Instead we will have hyperinflation leading to $50,000 gold which is Jim Sinclair’s forecast or 100 trillion Marks like in the Weimar republic. The latter forecast would be the result of the $1.5 quadrillion derivatives imploding.
The point I am making is that these forecast are just the consequences of the sensational actions taken by the elite. Global debt going from virtually zero to $220 trillion in 100 years and going up by over $100 trillion or 100% in 20 years is totally unbelievable as well as irresponsible. Creating financial instruments of self-destruction (derivatives) in the quadrillion dollars, is not just sensational, it is totally immoral. Even more so when most of these instruments are worthless and will never be settled as counterparty fails.
There are many more sensational or unreal events like certain asset prices, bankers’ and hedge fund managers’ pay, football (soccer) players’ earning a guaranteed weekly wage of $500,000 and so on.
Thus when I forecast that stock markets will go down by up to 95% or precious metals up by 100s of percent, it is all in relation to the excesses that we have seen over the last 100 years. When bubbles burst, unexpected as well as uncontrollable events will take place.
What the world has experienced since 1913 is not the norm. No, it has been an unreal dream that sadly will turn into a nightmare. The world has not just lived above its means but on means that will evaporate in a puff of smoke in coming years.
I elaborate further on the matters discussed above in my latest KWN interview:
“This Will Bring The World To Its Knees”
Reproduction, in whole or in part, is authorized as long as "GoldBroker.com all rights reserved" is mentioned along with a link to this page.
Egon Von Greyerz Goldbroker.com Board Member - Founder of MAM
Founder and Managing Partner of Matterhorn Asset Management AG (MAM) and GoldSwitzerland, Egon Von Greyerz joined the board of Goldbroker.com in 2012. Egon von Greyerz started his working life in Geneva as a banker and thereafter spent 17 years as Finance Director and Executive Vice-Chairman of Dixons Group Plc. Since the 1990s EvG has been actively involved with financial investment activities including Mergers and Acquisitions and Asset allocation consultancy for private family funds. This led to the creation of MAM in 1998, an asset management company based on wealth preservation principles. EvG makes regular media appearances (CNBC, BBC...) and speaks at investment conferences around the world. EvG forecasted the current present problems in the world economy well over 10 years ago. In 2002 when gold was $300 per ounce, MAM recommended to its investors to put 50% of their investment assets into physical gold stored outside the banking system.