Stocks No Bid… Gold No Offer
The comments below are an edited and abridged synopsis of an article by Egon von Greyerz
When the secular bull market turns down, the world will experience unprecedented market behaviour as asset bubbles burst. Investors will find that there are no buyers at any price. And for gold, there will be no sellers at any price.
Von Greyerz writes about a stock collapse; a bond implosion; the end of the derivatives market; why there will be no gold or silver available at any price; the possibility (or not) of gold confiscation; and how pension funds will be major buyers of gold.
In conclusion, he says that gold is primarily not an investment, although it will appreciate substantially in real terms. Gold is insurance, gold is money, gold is wealth preservation, and gold is the only asset that is no one else’s liability.
Unfortunately, few are aware of the facts and will not be prepared for what is coming very soon.