Greyerz – Gold & Silver About To Kickoff The Most Spectacular Bull Markets The World Has Ever Seen

Monday, May 6, 2019
By Paul Martin
May 05, 2019

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 told King World News that gold and silver are about to kickoff the most spectacular bull markets the world has ever seen.

A 24x Times Explosion
May 5 (King World News) – Egon von Greyerz: My long standing target for gold of $10,000 in today’s money and much, much higher in inflationary terms, is now more probable than ever. But I hope it will never be achieved. When gold goes to $10,000, it won’t be under the same circumstances that we saw in the 1970s. Gold went from $35 in 1971 to $850 in January of 1980 – a 24x explosion in very different circumstances.

In the 1970s, we had high inflation, weakening currencies and recessions in most countries. I remember that time well. I lived in the UK and experienced a global oil crisis, a coal miners’ strike, and shortages of various products. In 1974, businesses could only operate with electricity for three days per week. I was involved in retailing with Dixons, which later became the UK’s biggest consumer electronics retailer and a FTSE 100 company. We sold televisions and other electric products with candlelight. Dixons’ share price went down 94% (and so did my first options), although the company was always profitable and well financed. My first mortgage went to 21% for a period.

The Rest…HERE

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