Greyerz – $17,000 Gold & The Financial Devastation That Is To Come
KingWorldNews.com
May 26, 2018
As the world edges closer to the next crisis, today the man who has become legendary for his predictions on QE and historic moves in currencies, spoke with King World News about $17,000 gold and the financial devastation that is still to come.
Global Assets Surge 26X In 38 Years!
May 26 (King World News) – Egon von Greyerz: “In 1980, global assets, including property, were less than $20 trillion. Almost 40 years later they have grown to $524 trillion. That is a compound annual growth rate of 9%, which is quite remarkable for a 38 year period. Global assets have gone up 26 fold during this period…
The Financial Devastation That Is To Come
Egon von Greyerz continues: “In the same period, gold went from an average price of around $650 in 1980 to $1,300 today. So while global assets have gone up 26x since 1980, gold has just managed to go up 2x. Admittedly gold started at $35 in 1971, so it had already benefitted from a substantial rise by 1980. Nevertheless, since 1980, gold has been totally ignored both as an investment and as insurance or wealth protection. The massive increase in money supply through credit expansion and money printing has gone into conventional assets such as stocks, bonds and property but not into gold.
Gold has been a forgotten asset and investment for for 38 years and has not even kept pace with inflation with gold’s 1.8% annual growth rate since 1980. So there has been very little interest in gold while other investment assets have surged. We identified gold as a strategic investment for wealth preservation in 2002 at $300 and recommended to our investors to put a substantial percentage of their assets into gold with a minimum of 25%. Since then gold has been performing better than most investment classes. But the rise so far is totally insignificant compared to what is going to come.
The Rest…HERE
