Greyerz—The Everything Bubble Is Now Turning into The Everything Collapse
The comments below are an edited and abridged synopsis of an article by King World News
Egon von Greyerz says that investment managers ignore gold is because they can’t earn commissions holding physical gold. They say they have superior skills and knowledge of the market, yet 99% of them underperform the market by a wide margin.
Gold has risen significantly in the last couple of decades. What about going forward? Should investors trust investment managers who will buy investments that have had more than a century of printed money pushing values to bubble territory?
Since governments and central banks are the biggest supporters of gold by continuously destroying the value of paper money, gold ownership is a must.
The Everything Bubble is likely to turn into the Everything Collapse with all the bubble assets declining between 75% and 95% in real terms.
The biggest collapse will be the $300-trillion debt market. But before that, Western governments and central banks will have drowned financial markets in what Matt Piepenburg calls mouse-click money.
This year has seen the death of 4 banks—one Swiss and three American. After the 2008 banking crisis, we were told that there would be no more bailouts, only bail-ins. Those were brave words that couldn’t hold.
To stop an instant collapse of the system, central bankers must backstop everything, and we are back to bailouts again. This is just the beginning; the system is rotten.
Up for discussion: first gradually then suddenly—the Everything Collapse; will nuclear war, debt collapse or energy depletion finish the world; mitigate the risk by owning physical gold and silver; gold is nature’s money and eternal wealth; exponential moves and hyperinflation; the Dow to decline by 90% against gold; silver—gold on stilts; and mug for a day.