Gold and Financial Survival in the 2020s
The comments below are an edited and abridged synopsis of an article by Egon von Greyerz
We have had a bull market in precious metals since 2000. There have been long periods of correction, but the latest one is now behind us and the move that has just started is likely to be strong. Gold is at all-time highs in most currencies except for Swiss francs and US dollars. Soon the 2011 high of $1,920 will be exceeded on the way to much higher prices as the dollar collapses. And silver is likely to go up 2-3x as fast as gold.
Precious metals have started their move already. As for stocks, based on the author’s assessment and cycle analysis, the markets could turn at any time now. And based on technicals, the end of the secular bull market is imminent.
Whether the global economy will turn down early in 2020 or the euphoria will continue for a while is irrelevant. What we do know is that risk is at a maximum and therefore it is absolutely critical to protect your wealth. Throughout history, physical gold has been the best financial risk insurance money can buy. It won’t be different this time.
Up for discussion: Global debt up 2x and the Nasdaq up 7x; forecasting is a mug’s game; financial survival in the 2020s; hubris and complacency can be costly; on the edge of a precipice; beware of uber-confidence; three dozen reasons to worry; only Deus ex Machina can save us; gold is your best insurance; and high demand and paper gold failure will create massive gold shortages.
