Stocks No Bid – Gold No Offer

STOCKS NO BID – GOLD NO OFFER July 25, 2019 by Egon von Greyerz It is not difficult to understand Cassandra’s enormous frustration. She was given the gift of accurately predicting important events and her curse was that no one would believe her. Some of us are certain that we can now see the biggest bubbles in economic history coming to an end with totally devastating effects for the world. But like Cassandra, we are also cursed since more than 99.9% of the world’s population would not believe our predictions. The problem is that this time it will not only involve the biggest wealth destruction in history but also lead to major problems in society with mass unemployment, no social security, no pensions, breakdown in law and order, social unrest, civil war and geopolitical conflict. Reading these very dark predictions, I can understand that most people want to stick their head in the sand and ignore these dire forecasts. Obviously I would also hope that all these predictions are false and won’t come to pass. But as Winston Churchill said: “THE TRUTH IS INCONTROVERTIBLE, MALICE MAY ATTACK IT, IGNORANCE MAY DERIDE IT, BUT IN THE END THERE IT IS” The problem is of course that the truth will often only be known after the event. I wrote about Cassandra back in June 2017 and have over a very long period tried to warn anyone who is willing to listen about the risks and the events that will affect us all. We are obviously … Continue reading

THE GOLD MAGINOT LINE WILL SOON BREAK

May 2, 2019 by Egon von Greyerz Why do 99.9% of investors not own gold? Due to my interest and activity, I clearly meet a higher percentage than the 0.1% who both understand and own gold. But I also meet a lot of people who have been indoctrinated by their investment advisors and the media about gold’s uselessness. Most of these people don’t understand gold and don’t know the history of gold, nor its role as money. GOLD IS MONEY So let’s list some of the facts without being too long-winded: Gold has been money for 5,000 years Gold is the only money that has survived in history. In every major crisis, gold has been used as money. In all periods of history, fiat money has always lost 100% of its value. Fiat means money issued by government not backed by anything as opposed to gold or silver. For example, during the Roman Empire the silver coin the Denarius went from almost 100% silver content to zero during a 100 year period. The same has happened to all major currencies today like the Dollar, the Pound, the Yen and the Mark/Euro. Since the creation of the Fed in 1913, all currencies have lost 97-99% against gold. Thus there is only 1%-3% left until they have lost all their value. This is guaranteed to happen in the next 5-7 years as the debt and asset bubbles implode and governments print unlimited amounts of money in a futile attempt to save the … Continue reading