Follow Midas And Croesus—Stay Away From Gold ETFs Or Cryptos

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

“There is something vaguely troubling when the unthinkable becomes routine.” This is what Claudio Borio of the Bank for International Settlements said regarding the $17 trillion of debt with negative interest. He went on to say, “Even at the height of the Great Financial Crisis, this would have been unthinkable.”

Follow Midas And Croesus—Stay Away From Gold ETFs Or Cryptos | BullionBuzz
Bitcoin on motherboard,3d rendering,conceptual image.

And this is where the world is today: Unthinkable debt, unthinkable markets, unthinkable risk and unthinkable leaders who have totally lost control, and by their actions are increasing risk exponentially.

Is the coming chaos part of a plan? Von Greyerz is aware of the theory that this is part of a plot by globalists to take control of the world. Chaos is one way of achieving control, but the risk is that if the plot fails, we will see a total collapse of the financial system and uncontrollable chaos. In his view, this is the more likely scenario.

Up for discussion: Don’t hold gold at home, in an ETF, or in a bank, including a bank safe deposit box; cryptos are not wealth preservation; and gold and silver will reach multiples of current prices.

Von Greyerz says that, from a wealth preservation perspective, neither gold ETFs nor cryptos can function as true insurance against the problems the world will encounter in coming years.

Physical gold and silver, safely stored, is not a panacea, but it is the best economic and financial insurance that you can hold in a world where most assets will crash.

Gold and silver have started the next strong up-leg towards multiples of current prices. The small correction we are seeing now will end shortly. Thereafter, we will see a fast move in precious metals that will surprise most people.

Investors must not focus on price but instead on the importance of holding protection against a financial system that is unlikely to survive in its present form.

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