Egon von Greyerz: 8 Reasons Why Gold Will Soon Break The $1350 Line In The Sand

Sunday, May 5, 2019
By Paul Martin
May 5, 2019

Egon shares 8 reasons why gold will break the line in the sand and move to new all-time highs, and these reasons aren’t even all of the them…

by Egon von Greyerz of Gold Switzerland

Why do 99.9% of investors not own gold? Due to my interest and activity, I clearly meet a higher percentage than the 0.1% who both understand and own gold. But I also meet a lot of people who have been indoctrinated by their investment advisors and the media about gold’s uselessness. Most of these people don’t understand gold and don’t know the history of gold, nor its role as money.


So let’s list some of the facts without being too long-winded:

Gold has been money for 5,000 years
Gold is the only money that has survived in history.
In every major crisis, gold has been used as money.
In all periods of history, fiat money has always lost 100% of its value. Fiat means money issued by government not backed by anything as opposed to gold or silver.
For example, during the Roman Empire the silver coin the Denarius went from almost 100% silver content to zero during a 100 year period.
The same has happened to all major currencies today like the Dollar, the Pound, the Yen and the Mark/Euro. Since the creation of the Fed in 1913, all currencies have lost 97-99% against gold. Thus there is only 1%-3% left until they have lost all their value. This is guaranteed to happen in the next 5-7 years as the debt and asset bubbles implode and governments print unlimited amounts of money in a futile attempt to save the financial system.
In the 2000s gold has outperformed all major asset markets including stocks.


All the above are indisputable facts. But no government or central bank will ever admit to it since the total debasement of a country’s currency shows the failure of their economic policies.

Economic history is not taught in schools. No child is given a proper lesson about money, savings or compound interest. They learn empirically about debt, credit cards and spending money that you haven’t earned. How will they ever learn, how will they ever learn about sound money and how to manage their own affairs? Well they sadly won’t.

Since school children are not taught about sound money and economic history, how can we ever expect adults to grasp this subject.

In the West, the majority of people don’t understand that the Dollar, Euro, or Pound in their pocket is falling in value daily, due to incessant credit creation and money printing. People think that house prices or stock prices are going up. And they believe that food and services are regularly becoming more expensive. Very few people understand that it is not the price of goods and services that are going up but that it is the value of the money in their pocket that is constantly declining.

The principal reason why gold is the only money that has survived throughout history is that it cannot be printed. It also has many other important attributes, such as scarcity, indestructibility, divisibility etc.


The Rest…HERE

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