Greyerz: This Is When All Hell Will Break Loose – Plus A Rare Behind The Scenes Look At The Gold Market

Monday, May 15, 2017
By Paul Martin
May 14, 2017

As we get ready to kickoff the second week of trading in May, today the man who has become legendary for his predictions on QE, historic moves in currencies, spoke with King World News about when all hell is going to break loose, plus a rare behind the scenes look at the gold market.

The Big Con
Egon von Greyerz: “The most expensive investment anyone can buy today is paper gold. For $1,230, an investor will get a piece of paper saying he owns 1 ounce of gold. But he is unlikely to ever see that gold…

Firstly, most investors who buy paper gold have no understanding of the real reason for holding gold and will therefore never contemplate taking delivery. And even if they did understand the importance of holding real gold, they are quite happy to hold the surrogate alternative which is paper rather than physical. This is of course what the issuer of the paper gold wants. These entities knows that paper gold buyers have no intention of taking delivery. This is perfect for the seller because they have no intention of making delivery either. And this is how paper markets function. Buyers and sellers are willing to trade pieces of paper that are said to represent an underlying instrument whether it is a stock, bond currency or commodity.

Phony Paper Markets Won’t Last

The Rest…HERE

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