Candlesticks And Gold Bar And Rocket On Smartphone Screen. Buying And Selling Gold Gold Market Growth And Investment. 3d Render Illustration.

Gold, We Have Liftoff!

The comments below are an edited and abridged synopsis of an article by Egon von Greyerz

All fiat currencies die, but gold has been shining for 5,000 years and, as von Greyerz explains in this article, gold is likely to outshine virtually all assets in the next five to ten years.

Gold, We Have Liftoff! - BullionBuzz-BMG
Candlesticks and gold bar and rocket on smartphone screen. Buying and selling gold Gold market growth and investment. 3d render illustration.

In early 2002, gold was around $300. The Nasdaq had already crashed 67%; the total loss was 80%, and many companies went bankrupt.

In 2006, just over four years later, the Great Financial Crisis began. In 2008, the financial system was close to imploding.

Virtually unlimited money printing postponed the collapse and, since 2008, US total debt has almost doubled to $100 trillion.

Gold backing of a currency doesn’t always solve a debt problem, but it certainly makes it more difficult for the government to cook the books (which they do without fail).

Up for discussion: Bonfire of the US budget books; heads, gold wins—tails, gold wins; for the CBO, bad times don’t exist; stock market bubble and leadership swaps; Gates, Cook and Musk taking over Germany, UK and France; why is everyone waiting for new gold highs in order to buy; we have liftoff; gold is on the cusp of a major move; yes, gold is on the cusp of a major move; and gold as cheap as in 1971 or 2000.

“Please jump on the gold wagon while there is still time to preserve your wealth.”

“The coming surge in gold demand cannot be met by more gold because more than the current 3,000 tonnes of gold per annum cannot be mined.”

“Thus the only means to satisfy the coming gold mania is through much higher prices.”