Take Collateral in Physical Gold If You Lend Money to Your Bank
The comments below are an edited and abridged synopsis of an article by Egon von Greyerz
Are we on the verge of the Fall of Falls? Ten years after the Lehman collapse, will we again have an Autumn of Shocks in financial markets? The odds, says von Greyerez, are high.
Overstretched stock markets look extremely vulnerable, including 13 recent Hindenburg Omens for the US market. The US dollar could soon be on its final journey to oblivion, and US Treasury bonds could be on the verge of a major fall that will eventually lead to hyperinflationary yields, like Argentina’s and Turkey’s, in the 20%+ region.
Von Greyerez discusses a silver lining and the bargain of a lifetime; the forex market’s $6 trillion per day of worthless paper; how a printing press can never create real value; why not to lend your bank money without collateral; and why selling consumerism and buying hard assets is a good idea.