The Crisis Will Sink Stocks And Propel Gold
The comments below are an edited and abridged synopsis of an article by Egon von Greyerz
There are no safe assets. In 2002, von Greyerz recommended that investors hold up to 50% of their financial assets in physical gold. Today, he considers that up to 100% is the right figure, since there are no safe assets except for physical precious metals.
We are now at the end of the only truly global asset bubble in history, fueled by a debt explosion of epic proportions. Never before have all major economies peaked together, powered by quadrillions of credit creation, money printing and derivatives.
Up for discussion: uber-optimistic investors will be shocked; coronavirus might be the trigger; 400 million Chinese are on lockdown; global QE will flood the markets with worthless money; bond yields are inverting again; and the gold era is starting.