Good day my Steemian Friends.
Just who is Egon von Greyerz and should he be taken seriously?
He is known for his accurate predictions regarding QE (Quantitative easing) and moves in currencies.
A word of caution. Greyerz could be calledd a perma bull (permanently bullish). He is founder and CEO of GOLD Switzerland and Matterhorn Asset Management, since 1999. He advocates his clientele (worldwide) position 25 to 50 per cent of their assets in physical gold. I will add I'm in full agreement and certainly see 2000 dollar gold on the rather short term horizon and am particularly most bullish on silver.
Let's see where Greyerz is "coming from".
To understand von Greyerz you have to know that global assets including property since 1980 are up 26 X from under twenty trillion to over 524 trillion dollars in value. That's an annual compound growth rate of 9 percent. Gold has only doubled since 1980! It was however 35 .00 per ounce in 1971. But, his point is it is about to play catch up now from its all but ignored position and is terribly under owned. I could not agree more.
Please refer to the three charts below, compliments KWN.com
He believes between now and 2025 we are going to see the greatest transfer of wealth in history and is calling for a devastating stock market, and a panic into the metals never quite seen before. Dollar related (fiat) is doomed. Conventional markets will lose 50 -75% of value.
Stocks and bonds will fall precipitously as never seen since 1929, only much worse.
To come up with his 17,000 dollar gold scenario he is talking about a 97 % devaluation in traditional investment and a panic into gold.
Rationally, I have no idea how he can be THAT bullish on gold and quite so pessimistic on traditional financial assets.
I have given reasons in prior posts why gold and silver are going DRAMATICALLY higher and it starts very soon. Pay very close attention now on the dollar and its coming demise and our "situation" with China and Russia. JP MORGAN has not bought quite recently 140,000,000 ounces of silver to lose money.
I see this administration trying (with the help of manipulation) valiantly (desperately) to prop up the markets through the elections. The Fed now is really helpless in it fight to reign in inflation coupled with our need for a weaker dollar. It is a no win deal. China wants our dollar strong! Yet they don't want to support our debt. It is the last chance to buy the metals at this level, with maybe a slight bit of seasonal weakness from now to the end of June.
A reminder: Any opinions here are mine! Please do your due diligence.
Thanks for the visit! UPVOTE, FOLLOW, RESTEEM.
thanks for sharing with us
most welcome..and visit again!
yess sure
So I am good with 15% gold. Good to hear but hope it takes a while though before shtf.
you are good..and I agree completely.
Thank you for your continued support of SteemSilverGold
Awesome, awesome post...$17k seems crazy yet we don't know how bad things will get and $17k could be low.
Thank you very much...I agree..and von Greyerz is no one to take likely, no matter how absurd it may sound.
Very interesting, thank you for sharing, @yankee-statman. I try to buy a few grams of gold each month. Your post has actually reminded me that I should do it now. :)
Edit: …aaaand, done!!
and always great to see you here..(you'll be pleased, I believe)...and keep up you very fine posts!
thank you TP, and congrats on 2000 followers! a great tribute to hard and intelligent work.