Hocus-Pocus Scheme to Cause Dramatic Gold Surge
The comments below are an edited and abridged synopsis of an article by Egon von Greyerz
This article discusses gold’s growing importance as the principal protector of wealth and also talks about the price evolution of gold that will be dazzling as it reaches heights that no one can imagine.
Up for discussion: Systemic and currency risk; the biggest hocus-pocus scheme ever produced in history; money and assets that are made of air; risk is greater than at any time in history; the implosion of assets; how currency failure is guaranteed; wealth preservation; gold stands as a protector; get out of the system; Basel III; and gold being at the crest of a major bull market.
“Gold began this bull market in 2000. But it is really a bear market in currencies and in paper assets that we are facing.”
“As the chart below shows, gold went up for 12 years in a row 2000 to 2012. After a 3-year correction, this bull market is now resuming.”
“I expect gold to do as least as well in coming years as the 2000 to 2012 run, which was a compound annual growth rate of over 20% for 12 years.”
“Also the short-term picture for gold looks very favourable. On March 31 when gold was $1,707, I said that the gold bottom was in. The price is up almost $200 since then but that is just the beginning. A strong and sustained move is starting very soon.”
“There is no better asset than gold to protect against the systemic and currency risk that the world is facing. But it is not just a matter of wealth preservation, as I expect gold to also generate substantial wealth enhancement in coming years.”