Greyerz – What Is Unfolding Right Now Is Unimaginable
KingWorldNews.com
May 23, 2017
As we continue the third 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.
Egon von Greyerz: “Since the 2011 tops in gold and silver, precious metals investors have had their patience severely tested. Six years later, silver is down 66% from the $50 peak and gold 35% off the $1,920 peak. But we mustn’t forget that these metals started this century at $280 and $5 respectively. Having said that, it is no consolation for the investors who got in near the highs. The best time to buy an asset is when it is unloved and undervalued like gold and silver were in the early 2000s. What few investors realize is that the current levels of gold and silver, when real inflation is taken into account, are very similar to where the metals were in 2000-2. Thus, gold at $1,255 and silver at $17 is an absolute bargain and unlikely to remain at these levels for long…
Egon von Greyerz continues: “As the precious metals have corrected for six years, many markets have boomed. Money printing and credit creation can do wonders for asset markets. Since 2009, stocks in the US have tripled and many other asset classes such as property have appreciated substantially. Global debt since 2006 is up by 75% or $100 trillion, and short-term and long-term rates in the Western world are down from 5-6%, to anywhere from negative to around 2%. This has fueled stocks and property, but so far had limited effect on gold and silver.
The Rest…HERE
