Financial crisis

Warren Buffett's Berkshire Hathaway took a surprise stake in Barrick Gold earlier this year. The famed investor's endorsement could spur more investors to bet on the metal, NovaGold chairman Thomas Kaplan said on an earnings call this week. "He's made it safe for anyone interested in gold to be looking at the gold narrative," he added.

The main factor is the distrust of currencies; central banks are running their money printing presses at full speed, whereas with the recession due to the coronavirus, the production of real goods is falling. In this case, what is money worth? What are the major currencies, the dollar, the euro, the yen, the yuan, worth? Investors refer to gold, the ancient currency, the currency of trust, which nobody can print.

Central banks can base their investment strategy on many factors, but the main reasons for recent gold purchases remain increased economic and political risks, as well as low and negative interest rates.

Egon discusses economies “running on empty” for years on extreme budget deficits “paid for” by fiat currencies created out of thin air by increasingly desperate central banks. Of course, such monetary policies destroy currencies. Since the 1970’s, global currencies have gone down by well over 90% in real terms against gold.

Central banks will not save the world, they can’t. Because how can you solve a debt problem with more worthless debt or how can you create wealth by issuing more debt. That Ponzi scheme is now finished for a very long time. Physical gold (and silver) will in the next few years reveal the total delusion that the financial system has rested on. Investors who are not protected should take heed.

In a bull market, there are systematically corrections of around -20% on gold and -30% on silver. The last correction is healthy and offers a new investment opportunity before the next upward phase.

In this recent interview with SBTV (Silver Bullion Television), Matterhorn Asset Management founder, Egon von Greyerz, places his seminal focus on risk management in the specific context of precious metals. Egon begins with a father-of-the-bride speech given in 2002, in which he encouraged guests to buy gold. In the 18 years since he raised his glass, gold has increased by 7.5X…

In this second MAM Chat, Egon von Greyerz and Matthew Piepenburg swap thoughts on the seductive yet dangerous 2020 market melt-up. Not surprisingly, all patterns point toward the case for precious metals.

In this keynote speech at the GAIC Virtual Gold Conference in Australia, Egon von Greyerz explains why the US economic crisis is worse than most people understand and that it has been going on for quite some time.

After three consecutive weeks of growth, Russian forex holdings have reached a total of $591.8 billion, according to the latest data released by the country’s central bank.